Verde AgriTech Reports New Best Intercept: 13.0 m at 0.83% TREO including 8.0 m at 1.01% TREO; 25% of Drilled Metres ≥0.40% TREO

BELO HORIZONTE, Brazil / SINGAPORE – January 26, 2026 – Verde AgriTech Ltd. (TSX: NPK | OTCQX: VNPKF) (“Verde” or the “Company”) is pleased to report additional assay results from its ongoing drilling program at the Minas Americas Global Alliance Project (the “Project”) in Minas Gerais, Brazil.

“Our first drilling target (PT-34) is already delivering the combination that matters in rare earth discoveries: shallow thickness, repeated high grades, and a magnet‑rich rare earth basket,” said Cristiano Veloso, Founder and CEO of Verde. “With significant intercepts now extending across PT‑34 and multiple holes finishing in mineralization, we are prioritizing scale capture. Given the strength of results so far, the Board has approved expanding the resource definition footprint and drilling additional metres to better outline the district‑scale potential of the Project. Our objective is to define more tonnes of higher‑quality, magnet‑rich mineralization before finalizing scoping‑level economics.”

“In parallel, the Board has directed the Company to prepare the Project’s technical disclosure under Canadian NI 43‑101 and to develop U.S. SEC Regulation S‑K Subpart 1300 (S‑K 1300) aligned disclosure, including a Technical Report Summary as applicable,” added Mr. Veloso. “This dual‑track approach enhances comparability for global investors and preserves strategic flexibility as we advance the Project.”

This release reports assays from 24 additional holes totaling 244.7 m at the priority PT‑34 target, bringing drilling results reported to date to 27 holes totaling 279.8 m (280 assayed intervals).

 Drill Highlights

  • New best intercept to date returned 13.0 m (2.0–15.0 m) averaging 8,257 ppm (0.83%) TREO and 2,004 ppm (0.20%) MREO, including 8.0 m (3.0–11.0 m) averaging 10,113 ppm (1.01%) TREO and 2,495 ppm (0.25%) MREO.
  • Best 5 m composite to date averaged 10,941 ppm (1.09%) TREO and 2,732 ppm (0.27%) MREO.
  • Peak grade + magnet basket: (9.0–10.0 m) returned 13,453 ppm (1.35%) TREO and 3,836 ppm (0.38%) MREO (MREO/TREO = 28.5%; NdPr = 27.8% of TREO).
  • Meaningful high‑grade distribution: of 279.8 m drilled at PT‑34 to date, 71.2 m (25.4%) returned ≥0.40% TREO, 46.0 m (16.4%) returned ≥0.60% TREO, 23.0 m (8.2%) returned ≥0.80% TREO and 8.0 m (2.9%) returned ≥1.00% TREO.
  • Magnet basket strengthens with grade: in intervals ≥0.40% TREO, MREO (Nd+Pr+Dy+Tb) averages ~23% of TREO, rising to ~26% of TREO in intervals ≥1.00% TREO.
  • Heavy magnet REEs present: Dy₂O₃ up to 86 ppm and Tb₄O₇ up to 18 ppm.
  • Open at depth: 11 of 27 holes ended in ≥0.20% TREO mineralization, including 6 holes ending ≥0.40% TREO, 4 holes ending ≥0.80% TREO and 2 holes ending ≥1.00% TREO.
  • Significant intercepts now span ~1.7 km across PT‑34 (based on maximum collar‑to‑collar distance among holes returning continuous ≥0.40% TREO mineralization over ≥3 m).

Definitions: TREO = total rare earth oxides. MREO = magnetic rare earth oxides (Nd₂O₃ + Pr₆O₁₁ + Dy₂O₃ + Tb₄O₇). 10,000 ppm = 1.0%. Assays are head grades; metallurgical recoveries are determined by separate testwork.

Metallurgy Context (Previously Reported) and Next Steps

Verde has previously reported ionic adsorption behavior at the Project using mild ammonium‑sulfate leach screening, including the following process indicators in the best trench samples:

  • magnet rare earths comprising >40% of dissolved REO in primary leach solutions;
  • thorium and uranium reported at or below detection in the best intervals; and
  • cerium reporting at low levels in solution relative to head grade — a favorable selectivity signature for downstream upgrading.

Ongoing work includes:

  • deeper follow‑up drilling to test below current auger depths where mineralization remains open;
  • drill‑based composite metallurgical testing across principal mineralization domains; and
  • continued reporting of drill assays and metallurgical results as they become available.

Preliminary Economic Assessment (“PEA”)

With multiple high‑grade centres emerging across PT‑34 and mineralization remaining open at depth, Verde is sequencing its technical work to ensure the first economic study incorporates a broader drill dataset and updated composite metallurgy.

The Company continues to target a maiden NI 43‑101 Mineral Resource Estimate in H1 2026, and now targets completion of a PEA (NI 43‑101) in H2 2026, supported by S‑K 1300‑aligned technical disclosure work as applicable.

    Table 1: Selected Significant Intercepts — PT‑34 (Head Grades)

Hole ID Note From (m) To (m) Length (m) TREO (ppm) TREO (%) MREO (ppm) MREO (%) MREO/TREO (%)
MAV_AD_0027 from surface 0.0 15.5 15.5 7,265 0.73 1,749 0.17 24.1
MAV_AD_0027   2.0 15.0 13.0 8,257 0.83 2,004 0.20 24.3
MAV_AD_0027 incl. 3.0 11.0 8.0 10,113 1.01 2,495 0.25 24.7
MAV_AD_0027 5 m comp. 5.0 10.0 5.0 10,941 1.09 2,732 0.27 25.0
MAV_AD_0013   4.0 10.0 6.0 9,484 0.95 2,231 0.22 23.5
MAV_AD_0013 incl. 8.0 10.0 2.0 12,740 1.27 3,551 0.36 27.9
MAV_AD_0013 incl. peak 9.0 10.0 1.0 13,453 1.35 3,836 0.38 28.5
MAV_AD_0012   10.0 14.0 4.0 10,143 1.01 2,475 0.25 24.4
MAV_AD_0035   6.0 11.0 5.0 8,273 0.83 2,013 0.20 24.3
MAV_AD_0002 from surface 0.0 14.2 14.2 6,801 0.68 1,659 0.17 24.4
MAV_AD_0002 incl. 4.0 10.0 6.0 8,013 0.80 1,941 0.19 24.2
MAV_AD_0025   4.0 8.0 4.0 7,826 0.78 1,619 0.16 20.7

 

Notes: Intervals are downhole. Drillholes are vertical; based on the current geological model of a gently undulating mineralized horizon, downhole lengths are interpreted to represent approximate true thickness. Weighted averages are calculated by length. Rounding may result in minor differences.

  Table 2: PT‑34 Grade Distribution Scoreboard (Assayed Metres Above TREO Cutoffs)

TREO cutoff Cutoff (ppm) Metres ≥ cutoff % of drilled metres Holes hit
≥0.40% TREO 4,000 71.2 m 25.4% 11/27
≥0.60% TREO 6,000 46.0 m 16.4% 10/27
≥0.80% TREO 8,000 23.0 m 8.2% 7/27
≥1.00% TREO 10,000 8.0 m 2.9% 4/27

 

Notes: Metres are the summed lengths of assayed drill intervals meeting each cutoff (mostly ~1 m). This table does not represent a mineral resource or reserve estimate and is not a statement of continuity.

Figure 1: Drill hole plan map showing completed and pending drill hole assays in the resource potential area.

Figure 2: Cross section showing significant drill holes results

Qualified Person and QA/QC

The scientific and technical information contained in this news release has been reviewed and approved by Leonardo Deringer Fraga, P.Geo, Vice‑President of Exploration, who is a Qualified Person as defined by NI 43‑101 – Standards of Disclosure for Mineral Projects. EGBC License No. 61611.
Dril samples were collected at nominal one‑metre intervals. Sample preparation and analysis were carried out by SGS Geosol, an independent, ISO-accredited laboratory in Vespasiano, Minas Gerais, Brazil. Samples were analyzed for major oxides and a full rare earth element suite using industry-standard analytical methods

The Company maintains a quality assurance and quality control (QA/QC) program that includes the insertion of certified reference materials, blanks, and duplicates at regular intervals. QA/QC results were reviewed by the Qualified Person and were found to be within acceptable limits. No material QA/QC issues were identified that would affect the reliability of the reported assay results.

ABOUT VERDE AGRITECH

Verde AgriTech is a Brazil‑focused specialty fertilizer company listed on the TSX and OTCQX. The Company is advancing the Minas Americas Global Alliance rare earth project in Minas Gerais, Brazil, leveraging its operational platform and regional experience to accelerate exploration and technical de‑risking. For more information, visit our website: https://verde.ag/en/home.

Cautionary Language and Forward-Looking Statements

This news release contains “forward‑looking information” within the meaning of applicable Canadian securities legislation, including, but not limited to, statements with respect to: the significance of exploration results; the potential for economic extraction of rare earth elements; future exploration and development plans; the outcome of the Board of Directors’ review; potential partnerships, strategic alternatives, or value‑maximizing structures; the advancement of the Project; and the expected timing of further updates. Forward‑looking information is based on management’s current expectations, assumptions, estimates, projections and interpretations and involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied.

These factors include, without limitation: risks related to exploration‑stage projects; the possibility that future exploration results may not support mineral resource or reserve delineation; uncertainties relating to assay and metallurgical results; operational risks inherent in mining; risks associated with maintaining licenses, permits and mineral rights; changes in laws, regulations and government policies; risks related to capital and operating costs; commodity price volatility; financing risks; and other risks described in the Company’s most recent annual information form and other continuous disclosure filings available under the Company’s profile at www.sedarplus.ca.

Readers are cautioned not to place undue reliance on forward‑looking information. The Company does not undertake to update or revise any forward‑looking statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

This news release reports exploration results which are preliminary in nature and do not represent mineral resources or mineral reserves as defined under NI 43‑101. There is no certainty that further exploration will result in the delineation of mineral resources or mineral reserves, or that any development decision will be made. Mineralization identified to date is not necessarily indicative of future results.

 

For additional information please contact:

Cristiano Veloso, Chief Executive Officer and Founder

Tel: +55 (31) 3245 0205; Email: investor@verde.ag

www.verde.ag | www.investor.verde.ag

 

 

APPENDIX

Minas Americas Global Alliance Project (PT-34) — Drill Hole Collar Information and Full Assay Results

 

Notes: Assays are reported as head grades in parts per million (“ppm”). MREO includes Nd, Pr, Dy and Tb oxides. TREO includes all rare earth oxides. All holes are vertical (90°). Based on current interpretation of a gently undulating mineralized horizon, the reported intervals are interpreted to represent approximate true thickness. Coordinates are reported in SIRGAS 2000 / UTM Zone 23S.

 

Table 3: Drill hole collar information (PT-34 auger drilling reported to date)

 

Hole ID Easting (UTM) Northing (UTM) Elevation m Depth EOH m Status
MAV_AD_0001 384,454 7,841,206 1044.00 8.70 CONCLUDED
MAV_AD_0002 384,282 7,841,027 1149.00 14.20 CONCLUDED
MAV_AD_0003 384,092 7,840,847 1172.00 12.20 CONCLUDED
MAV_AD_0004 383,855 7,840,627 1195.00 7.00 CONCLUDED
MAV_AD_0005 383,909 7,840,741 1181.00 15.00 CONCLUDED
MAV_AD_0006 383,736 7,840,835 1192.00 11.00 CONCLUDED
MAV_AD_0007 383,611 7,840,764 1193.00 10.40 CONCLUDED
MAV_AD_0008 383,505 7,840,694 1182.00 11.00 CONCLUDED
MAV_AD_0009 383,356 7,840,530 1162.00 9.00 CONCLUDED
MAV_AD_0010 383,207 7,840,421 1142.00 9.00 CONCLUDED
MAV_AD_0011 383,911 7,840,309 1133.00 7.00 CONCLUDED
MAV_AD_0012 383,362 7,840,528 1164.29 14.00 CONCLUDED
MAV_AD_0013 383,429 7,840,463 1163.00 10.00 CONCLUDED
MAV_AD_0014 383,168 7,841,831 1167.00 6.00 CONCLUDED
MAV_AD_0015 382,960 7,841,892 1148.00 7.00 CONCLUDED
MAV_AD_0016 383,140 7,841,980 1164.00 12.00 CONCLUDED
MAV_AD_0017 383,366 7,842,092 1130.00 12.00 CONCLUDED
MAV_AD_0022 383,559 7,839,941 1179.00 12.00 CONCLUDED
MAV_AD_0023 383,445 7,839,886 1174.66 6.00 CONCLUDED
MAV_AD_0024 383,062 7,841,600 1149.00 10.00 CONCLUDED
MAV_AD_0025 383,141 7,841,509 1144.00 8.00 CONCLUDED
MAV_AD_0026 383,068 7,841,948 1169.00 6.00 CONCLUDED
MAV_AD_0027 383,245 7,842,037 1139.00 15.50 CONCLUDED
MAV_AD_0031 383,855 7,840,068 1190.00 11.00 CONCLUDED
MAV_AD_0033 383,348 7,841,789 1175.00 12.80 CONCLUDED
MAV_AD_0034 382,991 7,841,735 1150.00 12.00 CONCLUDED
MAV_AD_0035 383,059 7,842,157 1150.00 11.00 CONCLUDED

 

*EOH = end of hole.

 

Table 4: Full drilling results for PT-34 auger holes (all assayed intervals)

 

Hole ID From
(m)
To
(m)
Length
(m)
CeO2
(ppm)
Dy2O3
(ppm)
Er2O3
(ppm)
Eu2O3
(ppm)
Gd2O3
(ppm)
Ho2O3
(ppm)
La2O3
(ppm)
Lu2O3
(ppm)
Nd2O3
(ppm)
Pr6O11
(ppm)
Sm2O3
(ppm)
Tb4O7
(ppm)
Tm2O3
(ppm)
Y2O3
(ppm)
Yb2O3
(ppm)
TREO
(ppm)
MREO
(ppm)
NdPr
(%TREO)
MAV_AD_0001 0.0 1.0 1.0 2968 34 9 33 77 4 1331 1 1039 299 139 8 1 104 5 6052 1380 22%
MAV_AD_0001 1.0 2.0 1.0 3857 49 13 51 117 6 2042 1 1617 490 210 12 1 152 6 8623 2168 24%
MAV_AD_0001 2.0 3.0 1.0 3132 44 13 42 101 6 1663 1 1299 394 172 10 1 170 7 7054 1747 24%
MAV_AD_0001 3.0 4.0 1.0 2730 40 11 37 90 6 1326 1 1098 311 151 9 1 140 6 5957 1458 24%
MAV_AD_0001 4.0 5.0 1.0 2580 31 8 32 73 4 1191 0 977 281 131 7 1 93 4 5411 1296 23%
MAV_AD_0001 5.0 6.0 1.0 2455 29 7 30 69 4 1151 0 912 265 124 7 1 85 3 5143 1213 23%
MAV_AD_0001 6.0 7.0 1.0 2341 30 9 29 70 4 1086 1 872 250 119 7 1 108 4 4932 1159 23%
MAV_AD_0001 7.0 8.0 1.0 2347 29 8 28 66 4 1108 0 873 250 117 7 1 96 4 4938 1159 23%
MAV_AD_0001 8.0 8.7 0.7 1828 23 6 22 52 3 880 0 690 199 92 5 1 75 3 3880 917 23%
MAV_AD_0002 0.0 1.0 1.0 3484 43 12 44 103 6 1748 1 1381 417 184 10 1 129 6 7568 1851 24%
MAV_AD_0002 1.0 2.0 1.0 3102 52 14 47 115 7 1751 1 1356 406 187 12 1 158 7 7217 1826 24%
MAV_AD_0002 2.0 3.0 1.0 3181 58 15 52 130 8 1854 1 1491 446 209 13 2 173 8 7640 2008 25%
MAV_AD_0002 3.0 4.0 1.0 2740 35 10 36 83 4 1351 1 1109 325 148 8 1 113 5 5970 1477 24%
MAV_AD_0002 4.0 5.0 1.0 3055 39 11 39 91 5 1484 1 1210 353 164 9 1 131 6 6599 1611 24%
MAV_AD_0002 5.0 6.0 1.0 3334 42 12 42 96 6 1642 1 1293 394 172 10 1 146 6 7197 1739 23%
MAV_AD_0002 6.0 7.0 1.0 3716 43 12 44 101 6 1767 1 1403 430 184 10 1 145 6 7869 1886 23%
MAV_AD_0002 7.0 8.0 1.0 4523 47 11 53 116 6 2128 1 1742 522 221 11 1 135 5 9520 2321 24%
MAV_AD_0002 8.0 9.0 1.0 4241 59 17 58 136 8 2047 1 1720 513 234 14 2 204 9 9262 2305 24%
MAV_AD_0002 9.0 10.0 1.0 3219 86 40 50 147 16 1546 4 1319 364 188 17 5 606 27 7632 1787 22%
MAV_AD_0002 10.0 11.0 1.0 3105 54 23 42 110 9 1503 2 1229 361 167 11 3 353 14 6987 1656 23%
MAV_AD_0002 11.0 12.0 1.0 2916 37 11 36 85 5 1367 1 1100 321 149 8 1 141 6 6183 1467 23%
MAV_AD_0002 12.0 13.0 1.0 1712 21 6 20 49 3 817 0 637 183 85 5 1 78 3 3621 847 23%
MAV_AD_0002 13.0 14.2 1.2 1308 16 4 16 36 2 625 0 484 141 65 4 0 53 3 2757 644 23%
MAV_AD_0003 0.0 1.0 1.0 221 3 2 1 4 1 86 0 46 14 7 1 0 20 2 410 64 15%
MAV_AD_0003 1.0 2.0 1.0 134 3 2 1 3 1 74 0 24 9 3 0 0 21 3 279 37 12%
MAV_AD_0003 2.0 3.0 1.0 163 5 3 1 5 1 87 1 43 14 6 1 1 28 4 361 62 16%
MAV_AD_0003 3.0 4.0 1.0 200 3 2 1 3 0 93 0 38 13 5 0 0 16 2 377 54 13%
MAV_AD_0003 4.0 5.0 1.0 443 4 2 2 6 1 235 0 75 26 9 1 0 22 2 829 106 12%
MAV_AD_0003 5.0 6.0 1.0 638 7 3 5 12 1 304 0 164 52 22 1 0 26 3 1239 225 17%
MAV_AD_0003 6.0 7.0 1.0 1898 23 11 15 37 4 903 1 439 136 64 5 1 93 11 3640 603 16%
MAV_AD_0003 7.0 8.0 1.0 2108 21 11 11 30 4 582 1 295 92 43 4 2 101 10 3314 411 12%
MAV_AD_0003 8.0 9.0 1.0 2588 18 6 14 33 3 555 1 400 120 58 4 1 62 5 3865 541 13%
MAV_AD_0003 9.0 10.0 1.0 3498 36 10 34 78 5 1214 1 1043 303 152 8 1 105 6 6494 1390 21%
MAV_AD_0003 10.0 11.0 1.0 2381 41 14 32 82 6 1247 1 912 263 131 9 1 147 9 5276 1225 22%
MAV_AD_0003 11.0 12.2 1.2 2132 42 14 30 80 6 1035 1 811 227 121 9 2 150 10 4671 1089 22%
MAV_AD_0004 0.0 1.0 1.0 260 7 4 2 7 1 112 1 78 24 11 1 1 38 5 551 109 18%
MAV_AD_0004 1.0 2.0 1.0 324 7 4 2 7 1 108 1 73 22 10 1 1 40 5 606 104 16%
MAV_AD_0004 2.0 3.0 1.0 355 7 4 3 8 1 174 1 127 38 17 1 1 37 4 778 173 21%
MAV_AD_0004 3.0 4.0 1.0 255 6 4 1 5 1 63 1 40 12 6 1 1 41 5 444 60 12%
MAV_AD_0004 4.0 5.0 1.0 236 6 4 1 5 1 65 1 42 13 6 1 1 40 5 429 63 13%
MAV_AD_0004 5.0 6.0 1.0 251 7 4 2 7 1 92 1 63 19 9 1 1 41 5 503 90 16%
MAV_AD_0004 6.0 7.0 1.0 218 6 4 2 6 1 97 1 63 19 9 1 1 38 4 469 89 17%
MAV_AD_0005 0.0 1.0 1.0 383 7 4 4 9 1 201 1 151 44 19 1 1 37 4 867 204 23%
MAV_AD_0005 1.0 2.0 1.0 340 6 4 3 8 1 193 1 143 43 18 1 1 33 4 800 194 23%
MAV_AD_0005 2.0 3.0 1.0 330 6 4 3 8 1 207 1 152 45 19 1 1 31 4 813 205 24%
MAV_AD_0005 3.0 4.0 1.0 329 6 3 3 7 1 209 1 151 46 18 1 1 31 4 811 203 24%
MAV_AD_0005 4.0 5.0 1.0 295 5 3 3 7 1 196 1 138 43 16 1 1 28 4 740 186 24%
MAV_AD_0005 5.0 6.0 1.0 253 4 3 3 6 1 171 1 119 36 14 1 0 23 3 638 160 24%
MAV_AD_0005 6.0 7.0 1.0 257 4 2 2 5 1 154 0 99 32 11 1 0 20 3 591 135 22%
MAV_AD_0005 7.0 8.0 1.0 175 3 2 1 3 1 100 0 60 20 7 0 0 14 2 388 83 21%
MAV_AD_0005 8.0 9.0 1.0 156 3 2 1 3 1 90 0 54 17 6 0 0 15 2 350 74 20%
MAV_AD_0005 9.0 10.0 1.0 183 3 2 1 3 1 101 0 57 19 6 0 0 15 2 392 79 19%
MAV_AD_0005 10.0 11.0 1.0 258 3 2 2 4 1 140 0 70 24 8 1 0 16 2 530 98 18%
MAV_AD_0005 11.0 12.0 1.0 301 3 2 1 4 1 165 0 66 24 7 0 0 14 2 590 93 15%
MAV_AD_0005 12.0 13.0 1.0 329 4 2 2 5 1 200 0 67 25 8 1 0 21 2 667 96 14%
MAV_AD_0005 13.0 14.0 1.0 304 4 3 1 4 1 174 0 47 18 5 1 0 21 3 586 69 11%
MAV_AD_0005 14.0 15.0 1.0 325 5 3 1 5 1 186 1 50 19 6 1 1 25 4 631 74 11%
MAV_AD_0006 0.0 1.0 1.0 279 6 4 2 6 1 93 1 65 20 9 1 1 37 4 529 91 16%
MAV_AD_0006 1.0 2.0 1.0 291 6 4 2 6 1 96 1 66 20 9 1 1 37 4 545 93 16%
MAV_AD_0006 2.0 3.0 1.0 280 6 4 2 6 1 91 1 61 19 9 1 1 37 4 522 87 15%
MAV_AD_0006 3.0 4.0 1.0 352 7 4 2 6 1 101 1 67 21 9 1 1 39 5 617 95 14%
MAV_AD_0006 4.0 5.0 1.0 356 6 4 2 6 1 107 1 74 22 10 1 1 36 5 633 104 15%
MAV_AD_0006 5.0 6.0 1.0 363 7 4 3 8 1 141 1 96 30 13 1 1 37 4 708 133 18%
MAV_AD_0006 6.0 7.0 1.0 372 7 4 3 9 1 162 1 116 35 16 1 1 36 4 767 159 20%
MAV_AD_0006 7.0 8.0 1.0 413 7 4 4 10 1 194 1 141 43 19 1 1 37 4 880 192 21%
MAV_AD_0006 8.0 9.0 1.0 431 8 4 4 11 1 210 1 158 47 22 1 1 37 4 940 214 22%
MAV_AD_0006 9.0 10.0 1.0 427 8 4 4 11 1 214 1 166 49 23 1 1 37 4 953 225 23%
MAV_AD_0006 10.0 11.0 1.0 410 7 4 4 10 1 203 1 159 47 22 1 1 36 4 910 214 23%
MAV_AD_0007 0.0 1.0 1.0 298 6 4 2 6 1 103 1 71 22 10 1 1 37 5 568 100 16%
MAV_AD_0007 1.0 2.0 1.0 536 7 4 3 8 1 194 1 107 36 14 1 1 36 4 952 151 15%
MAV_AD_0007 2.0 3.0 1.0 326 7 5 2 7 1 104 1 68 21 10 1 1 41 5 597 96 15%
MAV_AD_0007 3.0 4.0 1.0 338 6 4 2 6 1 99 1 67 21 9 1 1 37 5 598 95 15%
MAV_AD_0007 4.0 5.0 1.0 333 6 4 2 7 1 119 1 83 25 12 1 1 37 4 636 116 17%
MAV_AD_0007 5.0 6.0 1.0 351 7 4 2 8 1 140 1 96 29 12 1 1 38 5 696 133 18%
MAV_AD_0007 6.0 7.0 1.0 341 7 4 3 8 1 147 1 103 32 14 1 1 38 4 704 143 19%
MAV_AD_0007 7.0 8.0 1.0 335 6 4 3 8 1 156 1 110 33 15 1 1 36 4 714 150 20%
MAV_AD_0007 8.0 9.0 1.0 353 7 4 3 9 1 171 1 124 37 16 1 1 36 4 768 169 21%
MAV_AD_0007 9.0 10.4 1.4 358 7 4 3 9 1 178 1 130 39 18 1 1 35 4 789 177 21%
MAV_AD_0008 0.0 1.0 1.0 310 6 4 2 7 1 122 1 86 26 12 1 1 34 4 616 119 18%
MAV_AD_0008 1.0 2.0 1.0 286 6 4 2 6 1 114 1 80 24 11 1 1 35 4 577 111 18%
MAV_AD_0008 2.0 3.0 1.0 334 6 4 2 7 1 119 1 82 25 12 1 1 37 4 637 115 17%
MAV_AD_0008 3.0 4.0 1.0 371 6 4 3 7 1 133 1 93 28 13 1 1 38 5 704 129 17%
MAV_AD_0008 4.0 5.0 1.0 376 7 4 3 8 1 153 1 106 32 14 1 1 37 5 749 146 18%
MAV_AD_0008 5.0 6.0 1.0 378 6 4 3 8 1 165 1 120 36 16 1 1 35 4 780 163 20%
MAV_AD_0008 6.0 7.0 1.0 356 6 4 3 8 1 169 1 123 37 17 1 1 32 4 762 168 21%
MAV_AD_0008 7.0 8.0 1.0 189 3 2 2 4 1 106 0 75 23 10 1 0 15 2 432 101 23%
MAV_AD_0008 8.0 9.0 1.0 213 3 2 2 5 1 112 0 77 24 10 1 0 16 2 468 105 22%
MAV_AD_0008 9.0 10.0 1.0 256 3 2 2 5 1 128 0 80 26 10 1 0 18 2 534 110 20%
MAV_AD_0008 10.0 11.0 1.0 289 4 2 2 5 1 140 0 88 28 10 1 0 18 2 591 120 20%
MAV_AD_0009 0.0 1.0 1.0 736 7 3 3 10 1 192 1 109 35 15 1 1 34 4 1151 152 12%
MAV_AD_0009 1.0 2.0 1.0 1089 8 4 4 11 1 255 1 136 46 18 1 1 37 4 1617 191 11%
MAV_AD_0009 2.0 3.0 1.0 961 8 4 4 11 1 263 1 137 46 19 1 1 37 4 1497 192 12%
MAV_AD_0009 3.0 4.0 1.0 550 6 3 3 8 1 195 0 96 31 13 1 0 29 3 940 135 14%
MAV_AD_0009 4.0 5.0 1.0 577 6 3 3 8 1 206 0 98 33 13 1 0 30 3 984 138 13%
MAV_AD_0009 5.0 6.0 1.0 566 6 3 3 8 1 204 0 100 34 13 1 0 31 3 975 141 14%
MAV_AD_0009 6.0 7.0 1.0 753 6 3 3 8 1 214 1 111 37 14 1 1 33 4 1190 155 12%
MAV_AD_0009 7.0 8.0 1.0 747 6 3 3 8 1 212 0 108 36 14 1 0 30 3 1172 151 12%
MAV_AD_0009 8.0 9.0 1.0 658 7 4 3 8 1 193 1 100 33 13 1 1 34 4 1060 141 13%
MAV_AD_0010 0.0 1.0 1.0 321 6 4 2 7 1 129 1 76 24 11 1 1 36 4 623 108 16%
MAV_AD_0010 1.0 2.0 1.0 654 7 4 3 8 1 180 1 95 32 12 1 1 39 4 1042 134 12%
MAV_AD_0010 2.0 3.0 1.0 1057 8 4 3 9 1 243 1 121 42 15 1 1 38 4 1548 171 10%
MAV_AD_0010 3.0 4.0 1.0 617 7 3 4 11 1 265 0 142 46 18 1 0 35 3 1156 197 16%
MAV_AD_0010 4.0 5.0 1.0 578 8 4 4 10 1 252 1 151 48 19 1 1 40 4 1123 208 18%
MAV_AD_0010 5.0 6.0 1.0 429 8 5 3 8 2 183 1 124 39 15 1 1 44 5 868 172 19%
MAV_AD_0010 6.0 7.0 1.0 358 7 5 3 7 1 156 1 112 33 14 1 1 42 5 745 154 20%
MAV_AD_0010 7.0 8.0 1.0 349 7 4 3 8 1 151 1 119 35 15 1 1 41 5 741 163 21%
MAV_AD_0010 8.0 9.0 1.0 301 8 5 3 8 2 142 1 115 33 15 1 1 47 5 686 156 21%
MAV_AD_0011 0.0 1.0 1.0 193 6 4 1 5 1 67 1 43 13 7 1 1 40 5 389 63 14%
MAV_AD_0011 1.0 2.0 1.0 193 7 4 1 5 1 67 1 42 13 7 1 1 43 5 391 62 14%
MAV_AD_0011 2.0 3.0 1.0 222 7 5 1 5 1 63 1 39 12 6 1 1 44 5 412 58 12%
MAV_AD_0011 3.0 4.0 1.0 244 7 4 1 5 1 66 1 41 13 6 1 1 41 5 436 61 12%
MAV_AD_0011 4.0 5.0 1.0 205 6 4 1 5 1 64 1 40 12 6 1 1 38 4 389 59 14%
MAV_AD_0011 5.0 6.0 1.0 200 6 4 1 5 1 72 1 46 14 7 1 1 37 4 400 67 15%
MAV_AD_0011 6.0 7.0 1.0 193 6 4 2 5 1 80 1 52 16 8 1 1 36 4 409 75 17%
MAV_AD_0012 0.0 1.0 1.0 432 7 4 2 7 1 140 1 69 23 9 1 1 36 4 736 99 12%
MAV_AD_0012 1.0 2.0 1.0 505 7 4 3 8 1 167 1 82 27 12 1 1 35 4 858 118 13%
MAV_AD_0012 2.0 3.0 1.0 562 7 4 3 8 1 183 1 88 29 12 1 1 40 4 946 126 12%
MAV_AD_0012 3.0 4.0 1.0 920 11 5 7 17 2 355 1 199 64 26 2 1 48 5 1662 276 16%
MAV_AD_0012 4.0 5.0 1.0 1494 15 5 10 26 2 611 1 279 94 37 3 1 66 4 2647 391 14%
MAV_AD_0012 5.0 6.0 1.0 2303 14 5 9 23 2 696 0 276 97 36 3 1 59 4 3526 389 11%
MAV_AD_0012 6.0 7.0 1.0 5014 14 5 9 24 2 760 1 286 101 37 3 1 60 4 6319 403 6%
MAV_AD_0012 7.0 8.0 1.0 3057 30 9 23 63 4 1147 1 670 201 91 7 1 96 5 5404 908 16%
MAV_AD_0012 8.0 9.0 1.0 2448 16 5 13 33 2 625 0 377 116 54 3 0 47 3 3744 513 13%
MAV_AD_0012 9.0 10.0 1.0 3065 54 22 34 95 9 1684 2 930 289 129 11 3 280 14 6620 1284 18%
MAV_AD_0012 10.0 11.0 1.0 4890 50 14 49 110 7 1835 1 1513 465 208 11 1 152 7 9313 2039 21%
MAV_AD_0012 11.0 12.0 1.0 4715 52 14 56 121 7 2096 1 1747 537 235 12 1 163 8 9764 2348 23%
MAV_AD_0012 12.0 13.0 1.0 4879 69 22 64 149 10 2347 2 1973 590 264 15 2 256 13 10654 2647 24%
MAV_AD_0012 13.0 14.0 1.0 4762 72 21 71 162 9 2417 1 2151 625 290 16 2 229 11 10840 2864 26%
MAV_AD_0013 0.0 1.0 1.0 664 7 4 4 10 1 207 0 117 37 16 1 1 34 3 1106 162 14%
MAV_AD_0013 1.0 2.0 1.0 903 6 3 3 9 1 206 0 98 33 13 1 0 31 3 1312 138 10%
MAV_AD_0013 2.0 3.0 1.0 1107 7 3 4 10 1 260 0 111 38 14 1 0 35 3 1596 158 9%
MAV_AD_0013 3.0 4.0 1.0 2623 9 4 5 15 1 379 0 156 52 21 2 0 38 3 3307 219 6%
MAV_AD_0013 4.0 5.0 1.0 4381 20 6 14 38 3 835 1 420 133 56 4 1 68 4 5984 576 9%
MAV_AD_0013 5.0 6.0 1.0 4772 37 10 34 80 5 1601 1 1023 312 137 8 1 100 5 8127 1380 16%
MAV_AD_0013 6.0 7.0 1.0 4334 60 17 59 137 8 2249 1 1856 571 249 14 2 204 9 9770 2501 25%
MAV_AD_0013 7.0 8.0 1.0 3463 43 12 43 100 6 1771 1 1349 422 180 10 1 138 6 7546 1824 23%
MAV_AD_0013 8.0 9.0 1.0 4831 52 13 67 138 6 3261 1 2431 770 295 13 1 141 7 12027 3266 27%
MAV_AD_0013 9.0 10.0 1.0 5510 78 23 86 180 10 3132 2 2882 858 372 18 3 284 13 13453 3836 28%
MAV_AD_0014 0.0 1.0 1.0 330 7 4 2 7 1 109 1 74 23 10 1 1 43 4 618 105 16%
MAV_AD_0014 1.0 2.0 1.0 359 7 5 2 8 1 117 1 79 25 11 1 1 46 5 667 112 15%
MAV_AD_0014 2.0 3.0 1.0 315 7 5 2 6 1 102 1 66 21 9 1 1 45 5 587 95 15%
MAV_AD_0014 3.0 4.0 1.0 413 8 5 3 8 2 127 1 87 27 12 1 1 49 5 747 123 15%
MAV_AD_0014 4.0 5.0 1.0 371 7 4 2 6 1 106 1 68 21 9 1 1 44 5 648 97 14%
MAV_AD_0014 5.0 6.0 1.0 375 7 5 2 7 1 115 1 78 24 11 1 1 45 5 679 111 15%
MAV_AD_0015 0.0 1.0 1.0 511 7 4 2 8 1 154 1 80 26 11 1 1 39 4 850 114 12%
MAV_AD_0015 1.0 2.0 1.0 519 7 4 3 8 1 156 1 78 26 11 1 1 38 4 857 112 12%
MAV_AD_0015 2.0 3.0 1.0 531 7 4 3 7 1 170 1 82 27 11 1 1 36 4 885 117 12%
MAV_AD_0015 3.0 4.0 1.0 595 7 4 3 9 1 195 1 99 32 14 1 1 39 4 1006 140 13%
MAV_AD_0015 4.0 5.0 1.0 602 7 4 3 8 1 194 1 90 30 12 1 1 39 4 998 129 12%
MAV_AD_0015 5.0 6.0 1.0 655 7 3 3 8 1 241 0 94 33 12 1 1 35 4 1097 135 12%
MAV_AD_0015 6.0 7.0 1.0 682 7 4 3 8 1 239 1 96 34 13 1 1 35 4 1130 138 11%
MAV_AD_0016 0.0 1.0 1.0 440 7 4 3 8 1 171 1 116 36 16 1 1 41 5 850 160 18%
MAV_AD_0016 1.0 2.0 1.0 428 7 4 3 8 1 163 1 108 33 14 1 1 41 4 815 149 17%
MAV_AD_0016 2.0 3.0 1.0 455 7 4 3 9 1 182 1 122 38 16 1 1 41 5 884 168 18%
MAV_AD_0016 3.0 4.0 1.0 391 7 4 3 9 1 193 1 140 43 18 1 1 35 4 850 190 22%
MAV_AD_0016 4.0 5.0 1.0 407 7 4 4 10 1 219 1 157 47 19 1 1 38 4 920 213 22%
MAV_AD_0016 5.0 6.0 1.0 427 7 4 4 10 1 214 1 153 47 19 1 1 40 4 933 208 21%
MAV_AD_0016 6.0 7.0 1.0 356 6 3 3 9 1 198 1 146 44 18 1 0 32 3 820 197 23%
MAV_AD_0016 7.0 8.0 1.0 336 5 3 3 8 1 193 1 138 43 16 1 0 29 3 782 187 23%
MAV_AD_0016 8.0 9.0 1.0 317 5 3 3 8 1 179 0 127 39 15 1 0 29 3 731 172 23%
MAV_AD_0016 9.0 10.0 1.0 187 3 2 1 4 1 101 0 65 21 7 0 0 16 2 411 90 21%
MAV_AD_0016 10.0 11.0 1.0 192 3 2 1 3 0 101 0 64 21 7 0 0 14 2 411 89 21%
MAV_AD_0016 11.0 12.0 1.0 144 2 1 1 3 0 79 0 53 16 6 0 0 13 1 322 72 22%
MAV_AD_0017 0.0 1.0 1.0 2134 28 9 25 60 4 981 1 757 220 105 6 1 99 6 4437 1011 22%
MAV_AD_0017 1.0 2.0 1.0 2873 41 12 38 92 6 1332 1 1087 311 151 9 1 137 6 6097 1448 23%
MAV_AD_0017 2.0 3.0 1.0 2105 40 12 35 87 6 1192 1 996 277 138 9 1 154 6 5059 1321 25%
MAV_AD_0017 3.0 4.0 1.0 2408 37 13 31 73 5 1090 1 871 249 121 8 1 148 7 5063 1165 22%
MAV_AD_0017 4.0 5.0 1.0 1938 28 9 26 60 4 889 1 709 203 98 6 1 119 6 4097 947 22%
MAV_AD_0017 5.0 6.0 1.0 2069 28 9 27 62 4 968 1 765 219 106 6 1 105 4 4373 1019 23%
MAV_AD_0017 6.0 7.0 1.0 2102 27 8 27 64 4 995 1 785 225 109 6 1 104 4 4463 1044 23%
MAV_AD_0017 7.0 8.0 1.0 2240 27 7 27 64 4 1022 0 808 232 111 6 1 89 4 4642 1073 22%
MAV_AD_0017 8.0 9.0 1.0 2011 25 7 25 59 3 939 0 739 212 101 6 1 83 3 4215 982 23%
MAV_AD_0017 9.0 10.0 1.0 1978 24 7 25 56 3 914 0 721 208 99 6 1 78 4 4123 959 23%
MAV_AD_0017 10.0 11.0 1.0 1813 23 6 23 52 3 840 0 663 190 91 5 1 73 3 3786 881 23%
MAV_AD_0017 11.0 12.0 1.0 1760 22 6 22 51 3 805 0 638 182 88 5 1 73 3 3659 847 22%
MAV_AD_0022 0.0 1.0 1.0 247 4 3 1 4 1 84 0 52 17 7 1 0 26 3 451 74 15%
MAV_AD_0022 1.0 2.0 1.0 291 4 3 2 4 1 99 0 58 19 8 1 0 27 3 519 82 15%
MAV_AD_0022 2.0 3.0 1.0 303 4 3 2 5 1 103 0 62 20 8 1 0 26 3 539 87 15%
MAV_AD_0022 3.0 4.0 1.0 344 4 3 2 5 1 120 0 73 23 9 1 0 25 3 612 101 16%
MAV_AD_0022 4.0 5.0 1.0 286 4 2 2 4 1 116 0 67 22 8 1 0 22 3 537 93 17%
MAV_AD_0022 5.0 6.0 1.0 224 3 2 1 3 1 107 0 58 19 6 0 0 17 2 445 81 17%
MAV_AD_0022 6.0 7.0 1.0 231 3 2 1 4 1 106 0 60 20 7 0 0 19 2 457 84 18%
MAV_AD_0022 7.0 8.0 1.0 284 4 2 2 4 1 130 0 68 23 8 1 0 20 3 549 96 17%
MAV_AD_0022 8.0 9.0 1.0 251 4 2 1 4 1 129 0 67 22 8 1 0 22 3 515 93 17%
MAV_AD_0022 9.0 10.0 1.0 206 3 2 1 3 1 123 0 49 16 6 1 0 19 2 432 68 15%
MAV_AD_0022 10.0 11.0 1.0 185 4 3 1 3 1 94 0 38 13 5 1 0 25 3 375 55 14%
MAV_AD_0022 11.0 12.0 1.0 209 4 3 1 4 1 128 0 54 18 7 1 0 25 3 458 77 16%
MAV_AD_0023 0.0 1.0 1.0 232 4 2 1 4 1 79 0 48 15 6 1 0 22 3 419 68 15%
MAV_AD_0023 1.0 2.0 1.0 249 4 3 1 4 1 81 0 47 15 6 1 0 25 3 439 66 14%
MAV_AD_0023 2.0 3.0 1.0 284 4 3 1 4 1 86 0 50 16 6 1 0 26 3 486 71 14%
MAV_AD_0023 3.0 4.0 1.0 349 4 2 1 4 1 91 0 52 17 6 1 0 23 3 555 73 12%
MAV_AD_0023 4.0 5.0 1.0 329 4 2 1 4 1 88 0 51 16 6 1 0 25 3 531 71 13%
MAV_AD_0023 5.0 6.0 1.0 272 3 2 1 3 1 83 0 47 15 6 1 0 19 2 455 65 14%
MAV_AD_0024 0.0 1.0 1.0 582 9 5 4 10 2 186 1 107 35 15 1 1 44 5 1005 152 14%
MAV_AD_0024 1.0 2.0 1.0 595 8 4 4 10 1 178 1 109 35 15 1 1 41 5 1008 153 14%
MAV_AD_0024 2.0 3.0 1.0 626 8 4 3 10 1 170 1 111 34 15 1 1 38 4 1027 154 14%
MAV_AD_0024 3.0 4.0 1.0 376 5 3 2 6 1 112 0 62 20 9 1 0 27 3 628 88 13%
MAV_AD_0024 4.0 5.0 1.0 479 7 4 3 8 1 143 1 77 26 11 1 1 41 4 807 112 13%
MAV_AD_0024 5.0 6.0 1.0 277 6 4 2 6 1 110 1 52 18 7 1 1 38 4 526 77 13%
MAV_AD_0024 6.0 7.0 1.0 482 10 6 3 9 2 225 1 84 32 10 1 1 62 6 934 127 12%
MAV_AD_0024 7.0 8.0 1.0 3163 37 14 27 70 6 1608 1 836 271 107 7 2 141 11 6301 1152 18%
MAV_AD_0024 8.0 9.0 1.0 1831 24 8 14 38 3 915 1 424 144 55 4 1 76 6 3543 596 16%
MAV_AD_0024 9.0 10.0 1.0 1302 18 7 11 30 3 575 1 315 102 43 3 1 73 5 2490 439 17%
MAV_AD_0025 0.0 1.0 1.0 863 7 4 3 9 1 224 1 105 36 13 1 1 38 4 1310 149 11%
MAV_AD_0025 1.0 2.0 1.0 932 7 4 3 9 1 228 0 110 37 14 1 1 36 4 1389 156 11%
MAV_AD_0025 2.0 3.0 1.0 1113 7 4 3 10 1 272 0 120 41 14 1 0 37 3 1628 170 10%
MAV_AD_0025 3.0 4.0 1.0 1736 9 4 6 16 2 474 0 198 68 24 2 0 41 3 2583 278 10%
MAV_AD_0025 4.0 5.0 1.0 3662 31 9 25 64 4 1279 1 805 249 104 7 1 105 5 6349 1091 17%
MAV_AD_0025 5.0 6.0 1.0 4739 34 9 33 78 4 1579 1 1106 350 140 8 1 96 5 8181 1497 18%
MAV_AD_0025 6.0 7.0 1.0 3596 35 9 32 77 5 1557 1 1070 333 132 8 1 104 5 6966 1446 20%
MAV_AD_0025 7.0 8.0 1.0 4251 58 14 53 138 7 2508 1 1823 546 224 13 1 162 8 9808 2440 24%
MAV_AD_0026 0.0 1.0 1.0 343 7 4 2 7 1 118 1 73 23 10 1 1 47 5 641 104 15%
MAV_AD_0026 1.0 2.0 1.0 335 6 4 2 6 1 111 1 69 22 9 1 1 36 4 607 98 15%
MAV_AD_0026 2.0 3.0 1.0 365 6 4 2 6 1 113 1 70 22 10 1 1 39 4 644 100 14%
MAV_AD_0026 3.0 4.0 1.0 381 6 4 2 6 1 115 1 71 22 10 1 1 38 4 663 100 14%
MAV_AD_0026 4.0 5.0 1.0 405 6 4 2 6 1 117 1 72 23 10 1 1 39 5 692 102 14%
MAV_AD_0026 5.0 6.0 1.0 435 7 4 2 7 1 143 1 93 30 12 1 1 43 5 785 131 16%
MAV_AD_0027 0.0 1.0 1.0 991 9 5 6 15 2 333 1 201 64 28 2 1 40 4 1700 276 16%
MAV_AD_0027 1.0 2.0 1.0 812 10 4 7 17 2 376 1 232 74 32 2 1 39 4 1611 317 19%
MAV_AD_0027 2.0 3.0 1.0 2337 27 8 26 57 3 1011 1 772 229 110 6 1 81 5 4674 1034 21%
MAV_AD_0027 3.0 4.0 1.0 3981 53 16 52 116 7 1849 1 1465 443 211 12 2 177 9 8393 1972 23%
MAV_AD_0027 4.0 5.0 1.0 4470 54 14 61 129 7 2184 1 1770 542 256 13 1 150 7 9659 2379 24%
MAV_AD_0027 5.0 6.0 1.0 5276 59 13 72 149 7 2657 1 2204 665 301 14 1 135 6 11561 2942 25%
MAV_AD_0027 6.0 7.0 1.0 4543 47 11 59 122 6 2153 1 1740 539 248 11 1 111 5 9595 2337 24%
MAV_AD_0027 7.0 8.0 1.0 5366 75 17 81 185 9 2598 1 2295 662 330 18 2 181 8 11827 3050 25%
MAV_AD_0027 8.0 9.0 1.0 5485 78 20 79 182 10 2565 1 2215 642 316 18 2 198 9 11819 2953 24%
MAV_AD_0027 9.0 10.0 1.0 4642 65 17 63 146 9 2195 1 1761 536 253 14 2 194 8 9905 2376 23%
MAV_AD_0027 10.0 11.0 1.0 3800 51 14 52 116 7 1817 1 1449 441 210 12 1 169 7 8148 1954 23%
MAV_AD_0027 11.0 12.0 1.0 2483 36 11 32 76 5 1236 1 900 265 132 8 1 136 6 5327 1209 22%
MAV_AD_0027 12.0 13.0 1.0 3059 40 11 41 93 5 1469 1 1154 337 169 9 1 117 5 6511 1540 23%
MAV_AD_0027 13.0 14.0 1.0 2548 36 10 35 80 5 1207 1 944 274 140 8 1 114 5 5409 1263 23%
MAV_AD_0027 14.0 15.0 1.0 2118 29 9 28 64 4 1029 1 785 229 115 7 1 94 5 4516 1050 22%
MAV_AD_0027 15.0 15.5 0.5 1820 27 8 25 56 4 894 1 686 198 100 6 1 85 4 3914 917 23%
MAV_AD_0031 0.0 1.0 1.0 571 8 4 4 11 2 210 1 144 44 19 1 1 44 4 1069 198 18%
MAV_AD_0031 1.0 2.0 1.0 510 7 4 3 9 1 178 1 117 36 15 1 1 38 4 925 161 17%
MAV_AD_0031 2.0 3.0 1.0 447 6 4 2 7 1 141 1 90 28 12 1 1 36 4 779 125 15%
MAV_AD_0031 3.0 4.0 1.0 479 6 4 3 7 1 156 1 101 32 13 1 1 36 4 844 140 16%
MAV_AD_0031 4.0 5.0 1.0 453 6 4 3 8 1 172 1 120 36 15 1 1 36 4 860 164 18%
MAV_AD_0031 5.0 6.0 1.0 453 7 4 3 9 1 188 1 136 41 17 1 1 37 4 902 185 20%
MAV_AD_0031 6.0 7.0 1.0 428 7 4 4 9 1 203 1 148 45 19 1 1 35 4 910 201 21%
MAV_AD_0031 7.0 8.0 1.0 372 6 3 3 9 1 214 1 159 49 19 1 1 33 4 875 215 24%
MAV_AD_0031 8.0 9.0 1.0 416 7 4 3 9 1 229 1 164 50 19 1 1 36 4 946 221 23%
MAV_AD_0031 9.0 10.0 1.0 375 6 3 3 8 1 213 1 149 47 18 1 1 34 4 863 203 23%
MAV_AD_0031 10.0 11.0 1.0 237 6 4 3 7 1 125 1 94 29 13 1 1 28 4 552 129 22%
MAV_AD_0033 0.0 1.0 1.0 228 6 4 2 6 1 79 1 49 16 7 1 1 37 4 440 71 15%
MAV_AD_0033 1.0 2.0 1.0 241 6 4 2 6 1 88 1 57 17 8 1 1 39 4 476 81 16%
MAV_AD_0033 2.0 3.0 1.0 250 6 4 2 6 1 79 1 49 15 7 1 1 38 4 464 71 14%
MAV_AD_0033 3.0 4.0 1.0 263 6 4 2 5 1 79 1 48 15 7 1 1 37 4 474 70 13%
MAV_AD_0033 4.0 5.0 1.0 266 6 4 2 6 1 78 1 49 15 7 1 1 41 5 482 71 13%
MAV_AD_0033 5.0 6.0 1.0 277 6 4 2 6 1 107 1 72 22 10 1 1 36 4 550 101 17%
MAV_AD_0033 6.0 7.0 1.0 295 6 4 3 7 1 142 1 97 30 13 1 1 35 4 638 134 20%
MAV_AD_0033 7.0 8.0 1.0 292 6 4 3 7 1 147 1 102 31 13 1 1 34 4 648 141 21%
MAV_AD_0033 8.0 9.0 1.0 300 6 4 3 8 1 154 1 107 33 15 1 1 35 4 671 148 21%
MAV_AD_0033 9.0 10.0 1.0 305 6 4 3 8 1 160 1 111 34 15 1 1 35 4 689 152 21%
MAV_AD_0033 10.0 11.0 1.0 319 7 4 3 8 1 176 1 124 38 17 1 1 36 4 740 170 22%
MAV_AD_0033 11.0 12.0 1.0 320 7 4 3 9 1 177 1 124 39 16 1 1 36 4 742 171 22%
MAV_AD_0033 12.0 12.8 0.8 327 7 4 3 9 1 182 1 130 40 17 1 1 36 4 763 178 22%
MAV_AD_0034 0.0 1.0 1.0 489 8 4 3 8 1 165 1 82 27 11 1 1 41 4 846 118 13%
MAV_AD_0034 1.0 2.0 1.0 521 7 4 3 8 1 169 1 87 28 12 1 1 40 4 888 124 13%
MAV_AD_0034 2.0 3.0 1.0 545 7 4 3 9 1 183 1 95 31 13 1 1 34 3 930 134 13%
MAV_AD_0034 3.0 4.0 1.0 897 12 6 5 16 2 352 1 162 54 22 2 1 55 5 1592 230 14%
MAV_AD_0034 4.0 5.0 1.0 824 12 5 5 15 2 351 1 154 51 21 2 1 52 4 1499 219 14%
MAV_AD_0034 5.0 6.0 1.0 699 10 5 4 12 2 292 1 118 40 16 2 1 48 4 1253 169 13%
MAV_AD_0034 6.0 7.0 1.0 665 10 5 5 13 2 323 1 127 43 17 2 1 49 4 1265 181 13%
MAV_AD_0034 7.0 8.0 1.0 726 9 4 5 12 2 398 1 129 46 17 2 1 44 4 1398 185 13%
MAV_AD_0034 8.0 9.0 1.0 755 6 3 4 10 1 321 0 129 43 17 1 0 25 2 1318 179 13%
MAV_AD_0034 9.0 10.0 1.0 3162 10 3 10 22 1 475 0 305 94 42 2 0 33 2 4163 411 10%
MAV_AD_0034 10.0 11.0 1.0 2482 11 4 10 21 2 443 0 291 90 40 2 0 37 3 3436 394 11%
MAV_AD_0034 11.0 12.0 1.0 2355 22 6 24 51 3 862 0 743 219 102 5 1 65 3 4462 990 22%
MAV_AD_0035 0.0 1.0 1.0 879 9 4 5 13 1 314 1 162 53 21 2 1 40 4 1508 226 14%
MAV_AD_0035 1.0 2.0 1.0 882 9 4 6 14 2 317 1 177 57 23 2 1 41 4 1538 245 15%
MAV_AD_0035 2.0 3.0 1.0 860 8 4 5 13 1 472 0 187 65 23 1 0 35 3 1677 261 15%
MAV_AD_0035 3.0 4.0 1.0 606 6 3 4 9 1 326 0 125 44 15 1 0 24 3 1166 176 14%
MAV_AD_0035 4.0 5.0 1.0 756 6 3 4 10 1 379 0 131 47 16 1 0 26 3 1383 185 13%
MAV_AD_0035 5.0 6.0 1.0 1611 19 7 13 32 3 759 1 366 118 49 4 1 68 5 3052 506 16%
MAV_AD_0035 6.0 7.0 1.0 2984 41 13 34 81 6 1290 1 980 292 138 9 1 140 8 6017 1322 21%
MAV_AD_0035 7.0 8.0 1.0 3088 55 16 47 117 7 1780 1 1320 400 183 12 2 187 10 7226 1787 24%
MAV_AD_0035 8.0 9.0 1.0 3611 46 13 46 106 6 1797 1 1372 427 188 10 1 150 7 7782 1856 23%
MAV_AD_0035 9.0 10.0 1.0 4955 64 16 68 155 8 2554 1 2127 627 274 15 2 174 7 11047 2834 25%
MAV_AD_0035 10.0 11.0 1.0 4469 48 11 54 119 6 2014 1 1700 506 220 11 1 127 5 9291 2265 24%

 

 

Verde AgriTech Drilling Confirms From‑Surface, High‑Grade, Clay hosted Rare Earth Mineralization, Open for Expansion in Minas Gerais, Brazil

  • All initial drill holes intersect continuous rare earth mineralization in weathered clays from surface and were still in mineralization at end of hole
  • Best intercept: 14.2 metres from surface averaging 6,858 ppm TREO and 1,673 ppm MREO, including 6.0 metres at 8,013 ppm TREO and 1,941 ppm MREO in hole MAV_AD 002
  • High dysprosium content, with Dy₂O₃ up to 86 ppm in the best drill intercepts, strengthening the Project’s magnet rare earth profile
  • Drill results confirm depth continuity of high‑grade mineralization below PT‑34 trench and materially increase confidence in expanding the broader mineralized footprint
  • 200‑hole drill program underway to support a maiden NI 43‑101 mineral resource estimate targeted for Q1 2026

BELO HORIZONTE, Minas Gerais, Brazil, December 2, 2025 – Verde AgriTech Ltd. (TSX: NPK | OTCQX: VNPKF) (“Verde” or the “Company”) is pleased to report assay results from the first three drill holes of its ongoing resource definition program at the Minas Americas Global Alliance rare earths project (the “Project”) in Minas Gerais, Brazil.

All three holes intersected continuous, clay‑hosted rare earth mineralization from surface, confirming the presence of high‑grade mineralized horizons and supporting the potential for significant expansion of the mineralized footprint (see news release dated October 21, 2025).

The current drill campaign, utilizing three rigs, commenced in October 2025 and is designed to test near‑surface clay‑hosted rare earth oxide (“REO”) mineralization. Key objectives are to:

  1. Extend mineralized zones identified in surface trenching through systematic step‑out and infill drilling around trench samples PT‑34, PT‑36, PT‑42 and other high‑priority surface anomalies;
  2. Test additional targets along interpreted mineralized trends; and
  3. Provide sufficient drill density in priority zones to support an initial NI 43‑101 mineral resource estimate (“MRE”) targeted for Q1 2026.

Exploration Highlights

  • Continuous rare earth mineralization from surface in all three initial holes, hosted in highly weathered clay horizons typical of ionic adsorption clay (“IAC”) style deposits.
  • High‑grade total rare earth oxides (“TREO”) and magnetic rare earth oxides (“MREO”) from shallow depths, including:
    • MAV_AD 002
      • 2 m from surface averaging 6,858 ppm TREO and 1,673 ppm MREO, with Nd₂O₃ 1,248 ppm, Pr₆O₁₁ 370 ppm, Dy₂O₃ 45 ppm and Tb₄O₇ 10 ppm;
      • Including 6.0 m (4.0–10.0 m) at 8,013 ppm TREO and 1,941 ppm MREO, with Nd₂O₃ 1,241 ppm, Pr₆O₁₁ 355 ppm, Dy₂O₃ 53 ppm and Tb₄O₇ 10 ppm.
    • MAV_AD 001 (approximately 10 m from trench PT‑34)
      • 7 m from surface averaging 5,776 ppm TREO and 1,388 ppm MREO, with Nd₂O₃ 1,042 ppm, Pr₆O₁₁ 305 ppm, Dy₂O₃ 34 ppm and Tb₄O₇ 8 ppm;
      • Including 5.0 m (0.0–5.0 m) at 6,620 ppm TREO and 1,610 ppm MREO, with Nd₂O₃ 1,206 ppm, Pr₆O₁₁ 355 ppm, Dy₂O₃ 39 ppm and Tb₄O₇ 9 ppm.
    • MAV_AD 003
      • 2 m from surface averaging 2,563 ppm TREO and 484 ppm MREO, with Nd₂O₃ 358 ppm, Pr₆O₁₁ 106 ppm, Dy₂O₃ 17 ppm and Tb₄O₇ 4 ppm;
      • Including 6.2 m (6.0–12.2 m) at 4,543 ppm TREO and 877 ppm MREO, with Nd₂O₃ 650 ppm, Pr₆O₁₁ 190 ppm, Dy₂O₃ 30 ppm and Tb₄O₇ 6 ppm.
    • The location of these first three holes, relative to previously reported PT‑34 trench results, materially increases confidence in the continuity and expansion potential of the mineralized footprint.
    • The initial drill program is planned for approximately 200 drill holes by the end of February 2026, with the objective of defining a maiden MRE.
    • All holes reported in this release intersected weathered, rare earth‑enriched clay horizons consistent with IAC‑style deposits.

“Our initial results from shallow drilling at the Minas Americas Global Alliance project validate our belief in the scale and quality of this rare earth discovery,” said Cristiano Veloso, Verde’s Founder and CEO. “All initial holes intersected continuous mineralization from surface, with strong contributions from high‑value magnet rare earths—neodymium, praseodymium, dysprosium and terbium. Combined with the excellent desorbable rare earth response previously reported, these results materially increase our confidence in expanding the mineralized footprint and rapidly advancing towards a maiden mineral resource estimate in Q1 2026.

“Verde is uniquely positioned to advance this project in parallel with our core sustainable fertilizer business. We have existing infrastructure, teams, and capital in the region, and we see a compelling opportunity to contribute to a secure, responsible supply of rare earths needed for the global energy transition,” Mr. Veloso added. 

Initial Drill Results

Table 1: Results from initial drilling at Minas Americas Global Alliance exploration program

Assays reported as head grades in parts per million (“ppm”). MREO includes Nd, Pr, Dy and Tb oxides. TREO includes all rare earth oxides. All holes are vertical (90°). Based on current interpretation of a gently undulating mineralized horizon, the reported intervals are interpreted to represent true thickness.

Hole ID From To TREO (ppm) MREO (ppm) Nd₂O₃ (ppm) Pr₆O₁₁ (ppm) Dy₂O₃ (ppm) Tb₄O₇ (ppm)
MAV_AD_001 0 8.7 5,776 1,388 1,042 305 34 8
including 0 5.0 6,620 1,610 1,206 355 39 9
MAV_AD_002 0 14.2 6,858 1,673 1,248 370 45 10
including 4 10.0 8,013 1,941 1,241 355 53 10
MAV_AD_003 0 12.2 2,563 484 358 106 17 4
including 6 12.2 4,543 877 650 190 30 6

 

These results demonstrate continuous mineralization from surface across all three holes, with a strong contribution from high‑value magnet rare earths (Nd, Pr, Dy, Tb).

Figure 1: Project plan map showing significant intercepts from initial drilling 

Figure 2: Cross section showing drill holes results

Initial Drilling Summary

The first three drill holes were completed in the priority PT‑34 target area. Key observations include:

  • Consistent clay‑hosted mineralization from surface or near surface down‑hole in all holes;
  • No significant groundwater issues, enabling efficient drilling and sampling;
  • All holes were drilled vertically (90°); based on the current geological model of a gently undulating mineralized clay horizon, reported intervals are interpreted as true thickness;
  • Samples were collected on 0.7 m to 1.2 m intervals and dispatched to SGS Geosol for major oxides (ICP‑OES) and complete rare earth element analysis (ICP‑MS).

PT34 Trench vs. Drilling: Depth Continuity of HighGrade Mineralization

Trench sample PT‑34, previously reported (see news release dated October 21, 2025), returned excellent desorbable rare earth oxide (“DREO”) grades with exceptionally low impurities (uranium and thorium at or below detection limits), supporting an IAC‑style deposit model.

Vertical hole MAV_AD 001, collared approximately 10 m from PT‑34, was designed to test the down‑hole continuity of mineralization beneath the trench. Together with MAV_AD 002, the drill results demonstrate strong grade and thickness continuity below PT‑34.

Table 2: Comparison of Trench sample PT-34 and hole MAV_AD-002

Parameter PT-34 Trench (Surface) MAV_AD-002
(Vertical Auger, 4-10m)
Comments
Average TREO (ppm) 8,615 8,013 Continuity confirmed between surface and depth
Average MREO (ppm) 2,182 1,941 Consistent magnetic REE fraction
Desorbable REO (DREO) 578 mg/kg total, incl. ~240 mg/kg MREO n/a (head grades reported) Surface leachability supports IAC style model
Interval length (m) Surface trench/channel 6.0 m (4–10 m) Deeper extension of mineralized zone confirmed

The close spatial relationship and similar grade profiles between PT‑34 and holes MAV_AD 001 and MAV_AD 002 provide strong support for continuity of mineralization from surface to at least 8–10 m depth, reinforcing the resource expansion potential of this zone.

Metallurgical Program and Ionic Adsorption Clay Confirmation

Verde previously announced that leach tests on Project samples confirmed ionic‑adsorption clay behavior with high‑value magnet rare earths reporting strongly into solution and almost no contaminants. Using a mild 0.5M ammonium sulfate, 30‑minute leach, primary leach solutions returned up to:

  • 667 mg/kg desorbable rare earth oxides (DREO); and
  • ~278 mg/kg desorbable magnetic rare earth oxides (MREO: Nd, Pr, Dy, Tb),

with magnet REEs representing over 40% of dissolved rare earths. Impurities including thorium and uranium were at or below detection limits, and iron/aluminum were minimal, yielding a clean leachate well suited for downstream upgrading.

The strong DREO response at PT‑34 (578 mg/kg total DREO, ~240 mg/kg desorbable MREO, low U and Th) provides an encouraging foundation for the next phase of metallurgical work.

A dedicated metallurgical test program is being planned, including:

  • Preparation of composite metallurgical samples from representative drill holes across key clay types and grade ranges;
  • Ammonium salt leach tests and related characterization to evaluate DREO, optimize reagent conditions, and assess potential processing routes appropriate for clay‑hosted rare earth deposits; and
  • More sophisticated, multi‑stage metallurgical test work to support a preliminary economic assessment (“PEA”).

Results of this metallurgical work will be reported as they become available and are interpreted.

Rare Earths Discovery and Launch of Resource Definition Drilling

In early October 2025, Verde reported the discovery of a continuous, clay‑hosted rare earth mineralized zone covering approximately 5,500 hectares across 13 mineral rights, delineated by integrated mapping, geochemistry, geophysics and trench sampling (see news release dated October 6, 2025). Highlight assays included:

  • Up to 8,930 ppm TREO and up to 2,182 ppm MREO; and
  • 75 trench/surface samples averaging 743 ppm MREO (54 of 75 samples ≥ 400 ppm; 22 of 75 samples ≥ 1,000 ppm).

Samples are NdPr‑rich (averaging ~19% of TREO, peaking at 24%) with high‑grade dysprosium and terbium—attributes aligned with magnet‑grade applications in electric vehicles, robotics and wind turbines.

Following this discovery, Verde initiated a three‑rig drilling program at the Project (see news release dated October 9, 2025), with the aim of quickly defining the highest‑quality resources and determining the fastest viable path to production.

Next Steps

Verde’s ability to advance the Project in an expedited and cost‑efficient manner is supported by:

  • People: In‑house, multidisciplinary teams experienced in mapping, sampling and drilling, enabling a rapid field‑to‑decision cadence;
  • Equipment: Company‑owned drill rigs, vehicles, field equipment and integrated IT systems for fast data capture;
  • Laboratory: Verde’s laboratory supports sample preparation, scout assays and metallurgical screening in parallel with external labs, shortening cycles and de‑risking flowsheet choices;
  • Execution Experience: In the same region, Verde has brought two mines into production and built two large‑scale industrial plants that are in operation today;
  • Regional Infrastructure: Roads, bridges and high‑voltage power to site have been significantly upgraded by Verde, avoiding years of typical infrastructure lead time.

Key upcoming milestones at the Minas Americas Global Alliance project include:

  • Q1 2026: Publication of a maiden NI 43‑101 mineral resource estimate;
  • Q2 2026: Completion and publication of a PEA to demonstrate project economics.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Leonardo Deringer Fraga, Vice‑President of Exploration, P.Geo, who is a Qualified Person as defined by National Instrument 43‑101 – Standards of Disclosure for Mineral Projects.

QAQC

Auger drillholes were completed vertically, and reported intervals are interpreted to represent true thickness. Material from auger drillholes was sampled at nominal one‑metre intervals, generating sample weights of approximately 5–25 kg per interval. Samples were split using a Jones riffle splitter to produce an analytical sub‑sample of approximately 1,000 g, with about 3 kg retained as backup material and the remaining material archived.

Bagged samples were shipped to SGS Geosol (Vespasiano, Minas Gerais, Brazil) for sample preparation and analysis. Rigorous procedures were implemented during sample collection, preparation, and analytical stages to help ensure the reliability and robustness of the results.

All analytical results reported herein have been subjected to internal QA/QC review prior to compilation. This news release presents exploration results only and does not constitute a mineral resource or mineral reserve estimate. Forward‑looking statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied.

About Verde AgriTech

Verde AgriTech is dedicated to advancing sustainable agriculture through the innovation of specialty multi‑nutrient potassium fertilizers. The Company’s mission is to increase agricultural productivity, enhance soil health and contribute meaningfully to environmental sustainability.

Leveraging its unique position in Brazil, Verde uses proprietary technologies to develop solutions that address the immediate needs of farmers while tackling global challenges such as food security and climate change. Verde’s commitment to carbon capture and the production of eco‑friendly fertilizers underscores its vision for a future in which agriculture contributes positively to the health of the planet.

For more information, please visit: www.verde.ag and www.investor.verde.ag.

Cautionary Language and Forward-Looking Statements

This news release contains “forward‑looking information” within the meaning of applicable Canadian securities legislation, including, but not limited to, statements with respect to: the significance of exploration results; the potential for economic extraction of rare earth elements; future exploration and development plans; the outcome of the Board of Directors’ review; potential partnerships, strategic alternatives, or value‑maximizing structures; the advancement of the Project; and the expected timing of further updates. Forward‑looking information is based on management’s current expectations, assumptions, estimates, projections and interpretations and involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied.

These factors include, without limitation: risks related to exploration‑stage projects; the possibility that future exploration results may not support mineral resource or reserve delineation; uncertainties relating to assay and metallurgical results; operational risks inherent in mining; risks associated with maintaining licenses, permits and mineral rights; changes in laws, regulations and government policies; risks related to capital and operating costs; commodity price volatility; financing risks; and other risks described in the Company’s most recent annual information form and other continuous disclosure filings available under the Company’s profile at www.sedarplus.ca.

Readers are cautioned not to place undue reliance on forward‑looking information. The Company does not undertake to update or revise any forward‑looking statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

This news release reports exploration results which are preliminary in nature and do not represent mineral resources or mineral reserves as defined under NI 43‑101. There is no certainty that further exploration will result in the delineation of mineral resources or mineral reserves, or that any development decision will be made. Mineralization identified to date is not necessarily indicative of future results.

For additional information please contact:

Cristiano Veloso, Chief Executive Officer and Founder

Tel: +55 (31) 3245 0205; Email: investor@verde.ag

www.verde.ag | www.investor.verde.ag

 

Appendix

Table 3: Drill hole collar information

Hole ID Easting (UTM) Northing

(UTM)

Elevation (m) Depth

(m, EOH)

Dip Date

Completed

MAV_AD 001 384,454 7,841,206 1,044 8.70 90° Nov 15, 2025
MAV_AD 002 383,282 7,841,027 1,149 14.20 90° Nov 20, 2025
MAV_AD 003 384,092 7,840,847 1,172 12.20 90° Nov 25, 2025

*EOH = end of hole. Coordinates are reported in SIRGAS 2000/UTM ZONE 23S

Table 4: Full drilling results for holes MAV_AD_0001, MAV_AD_0002 and MAV_AD_0003

Hole ID From To Length UTMN UTME CeO2 Dy2O3 Er2O3 Eu2O3 Gd2O3 Ho2O3 La2O3 Lu2O3 Nd2O3 Pr6O11 Sm2O3 Tb4O7 Tm2O3 Y2O3 Yb2O3 TREO MREO %NdPr
MAV_AD_0001 0.0 1.0 1.0 384454 7841206 2968 34 9 33 77 4 1331 1 1039 299 139 8 1 104 5 6051 1380 22%
MAV_AD_0001 1.0 2.0 1.0 384454 7841206 3857 49 13 51 117 6 2042 1 1617 490 210 12 1 152 6 8623 2167 24%
MAV_AD_0001 2.0 3.0 1.0 384454 7841206 3132 44 13 42 101 6 1663 1 1299 394 172 10 1 170 7 7054 1747 24%
MAV_AD_0001 3.0 4.0 1.0 384454 7841206 2730 40 11 37 90 6 1326 1 1098 311 151 9 1 140 6 5956 1458 24%
MAV_AD_0001 4.0 5.0 1.0 384454 7841206 2580 31 8 32 73 4 1191 0 977 281 131 7 1 93 4 5411 1296 23%
MAV_AD_0001 5.0 6.0 1.0 384454 7841206 2455 29 7 30 69 4 1151 0 912 265 124 7 1 85 3 5143 1213 23%
MAV_AD_0001 6.0 7.0 1.0 384454 7841206 2341 30 9 29 70 4 1086 1 872 250 119 7 1 108 4 4932 1159 23%
MAV_AD_0001 7.0 8.0 1.0 384454 7841206 2347 29 8 28 66 4 1108 0 873 250 117 7 1 96 4 4938 1159 23%
MAV_AD_0001 8.0 8.7 0.7 384454 7841206 1828 23 6 22 52 3 880 0 690 199 92 5 1 75 3 3880 916 23%
MAV_AD_0002 0.0 1.0 1.0 384454 7841206 3484 43 12 44 103 6 1748 1 1381 417 184 10 1 129 6 7567 1851 24%
MAV_AD_0002 1.0 2.0 1.0 384282 7841027 3102 52 14 47 115 7 1751 1 1356 406 187 12 1 158 7 7217 1826 24%
MAV_AD_0002 2.0 3.0 1.0 384282 7841027 3181 58 15 52 130 8 1854 1 1491 446 209 13 2 173 8 7640 2008 25%
MAV_AD_0002 3.0 4.0 1.0 384282 7841027 2740 35 10 36 83 4 1351 1 1109 325 148 8 1 113 5 5969 1477 24%
MAV_AD_0002 4.0 5.0 1.0 384282 7841027 3055 39 11 39 91 5 1484 1 1210 353 164 9 1 131 6 6599 1611 24%
MAV_AD_0002 5.0 6.0 1.0 384282 7841027 3334 42 12 42 96 6 1642 1 1293 394 172 10 1 146 6 7196 1739 23%
MAV_AD_0002 6.0 7.0 1.0 384282 7841027 3716 43 12 44 101 6 1767 1 1403 430 184 10 1 145 6 7869 1886 23%
MAV_AD_0002 7.0 8.0 1.0 384282 7841027 4523 47 11 53 116 6 2128 1 1742 522 221 11 1 135 5 9520 2321 24%
MAV_AD_0002 8.0 9.0 1.0 384282 7841027 4241 59 17 58 136 8 2047 1 1720 513 234 14 2 204 9 9261 2305 24%
MAV_AD_0002 9.0 10.0 1.0 384282 7841027 3219 86 40 50 147 16 1546 4 1319 364 188 17 5 606 27 7632 1786 22%
MAV_AD_0002 10.0 11.0 1.0 384282 7841027 3105 54 23 42 110 9 1503 2 1229 361 167 11 3 353 14 6986 1656 23%
MAV_AD_0002 11.0 12.0 1.0 384282 7841027 2916 37 11 36 85 5 1367 1 1100 321 149 8 1 141 6 6183 1467 23%
MAV_AD_0002 12.0 13.0 1.0 384282 7841027 1712 21 6 20 49 3 817 0 637 183 85 5 1 78 3 3621 847 23%
MAV_AD_0002 13.0 14.2 1.2 384282 7841027 1308 16 4 16 36 2 625 0 484 141 65 4 0 53 3 2757 644 23%
MAV_AD_0003 0.0 1.0 1.0 384092 7840847 221 3 2 1 4 1 86 0 46 14 7 1 0 20 2 410 64 15%
MAV_AD_0003 1.0 2.0 1.0 384092 7840847 134 3 2 1 3 1 74 0 24 9 3 0 0 21 3 279 37 12%
MAV_AD_0003 2.0 3.0 1.0 384092 7840847 163 5 3 1 5 1 87 1 43 14 6 1 1 28 4 361 62 16%
MAV_AD_0003 3.0 4.0 1.0 384092 7840847 200 3 2 1 3 0 93 0 38 13 5 0 0 16 2 377 54 13%
MAV_AD_0003 4.0 5.0 1.0 384092 7840847 443 4 2 2 6 1 235 0 75 26 9 1 0 22 2 829 106 12%
MAV_AD_0003 5.0 6.0 1.0 384092 7840847 638 7 3 5 12 1 304 0 164 52 22 1 0 26 3 1239 225 17%
MAV_AD_0003 6.0 7.0 1.0 384092 7840847 1898 23 11 15 37 4 903 1 439 136 64 5 1 93 11 3640 603 16%
MAV_AD_0003 7.0 8.0 1.0 384092 7840847 2108 21 11 11 30 4 582 1 295 92 43 4 2 101 10 3314 411 12%
MAV_AD_0003 8.0 9.0 1.0 384092 7840847 2588 18 6 14 33 3 555 1 400 120 58 4 1 62 5 3864 541 13%
MAV_AD_0003 9.0 10.0 1.0 384092 7840847 3498 36 10 34 78 5 1214 1 1043 303 152 8 1 105 6 6494 1390 21%
MAV_AD_0003 10.0 11.0 1.0 384092 7840847 2381 41 14 32 82 6 1247 1 912 263 131 9 1 147 9 5276 1225 22%
MAV_AD_0003 11.0 12.2 1.2 384092 7840847 2132 42 14 30 80 6 1035 1 811 227 121 9 2 150 10 4671 1089 22%

 

Verde AgriTech Enters Exclusive Carbon Credit Partnership with UNDO

LONDON, UK – November 17, 2025 – Verde AgriTech Ltd. (TSX: NPK | OTCQX: VNPKF) (“Verde” or the “Company”), is pleased to announce the signing of an exclusive agreement with UNDO Carbon Ltd. (“UNDO”), a UK-based carbon dioxide (“CO₂”) removal innovator specializing in enhanced rock weathering, forming a collaborative framework to explore a commercial partnership focused on the creation, delivery, and sale of durable, high-quality carbon removal credits (“CDR Credits”) from Verde’s Enhanced Rock Weathering (“ERW”) activities in Brazil, leveraging the potential of the Company’s glauconitic siltstone mineral. Successful execution of this partnership has the potential to remove hundreds of thousands of tonnes of CO2 from the atmosphere. 

“The signing of this agreement with Verde demonstrates the potential of UNDO’s end-to-end platform in activating Enhanced Rock Weathering projects globally at pace. By combining Verde’s exceptional mineral resources and operational capacity in Brazil with UNDO’s ERW measurement and technology expertise, we’re creating a blueprint for scaling durable carbon removal. This collaboration is showing that when you bring together complementary strengths, ERW can scale quickly to deliver the gigatonnes of removal the world urgently needs.” Jim Mann, CEO and Founder, UNDO Carbon 

“Today’s exclusive agreement with UNDO creates a clear path to turn Verde’s Enhanced Rock Weathering activities into a scalable revenue stream,” commented Cristiano Veloso, Founder and CEO. “By combining our glauconitic siltstone products and established operations in Brazil with UNDO’s awardwinning expertise in measurement, reporting, and verification, we aim to originate and deliver durable, highquality carbon removal credits aligned with global best practices, including leading Enhanced Rock Weathering methodologies.” 

This exclusive agreement represents Verde’s first step into the carbon credit market, establishing a clear      framework to monetize Enhanced Rock Weathering, which aims to deliver on the Company’s objective of clearly outlining a new product and business stream through its ERW activities. For UNDO, its objective focuses on securing a reliable source of high-quality ERW feedstock and a pathway to scalable CDR from Verde’s ERW activities in Brazil. 

UNDO is a world-leading carbon dioxide removal project developer pioneering ERW to remove CO₂ from the atmosphere. They spread crushed silicate rock on agricultural land, accelerating the natural weathering process and enriching soil health.  

In April 2025, UNDO was named one of four global winners of the $100 million XPRIZE Carbon Removal competition (funded by the Musk Foundation), which aims to accelerate carbon dioxide removal technologies to address climate change at scale.1       

To date, UNDO has spread over 313,800 tonnes of silicate rock, enriching 54,400 acres of agricultural land across 398 farms, which is set to permanently remove approximately 69,000 tonnes of CO₂ across three continents. With the backing of leading brands such as Microsoft, Barclays, British Airways and McLaren, UNDO is well-positioned to spread millions of tonnes of mineral-rich silicate rock annually, an important step towards the billion-tonne scale needed to meet the urgent climate challenge. 

Partnership Benefits 

By combining complementary expertise and resources, the agreement supports Verde and UNDO in capturing market share and strengthening their competitive advantage, thereby supporting innovation and project execution, opening the door to scalable solutions that deliver benefits to both parties. 

Notable benefits to Verde include: 

  • UNDO’s experience in designing and implementing Enhanced Rock Weathering projects; 
  • UNDO technology platform to collect and organize operational and measurement data; 
  • Access to UNDO’s proprietary and patent-pending measurement protocols for reliable MRV (Measurement, Reporting, and Verification) of carbon removal through ERW; 
  • UNDO’s established relationships with carbon removal buyers; and 
  • UNDO’s expertise in quantifying and certifying carbon removal credits, with the ability to package projects for verification. 

Notable benefits to UNDO include:  

  • Access to Verde’s substantial ERW feedstock; 
  • Access to Verde’s agricultural network in Brazil for ERW activities, where ERW feedstock is applied; 
  • Local operational deployment capacity, including mineral processing/crushing, haulage, spreading, and field operations, including but not limited to soil sampling; and 
  • Verde’s local knowledge of the agricultural landscape, agronomic conditions, and climate records in Brazil. 

In mid-2023, Verde announced its plan to sell carbon credits to major international companies seeking to offset their carbon emissions (see press release dated July 27, 2023). This initiative builds on Verde’s existing fertilizer operations and introduces a complementary revenue stream based on the sale of verified, durable carbon removal credits generated through Enhanced Rock Weathering (ERW) using Verde’s glauconite-rich silicate rock.       

Warrant Grant  

In connection with this agreement, Verde will grant UNDO up to 1.7 million common share purchase warrants (the “Warrants”), allocated as: 

  • Initial Warrants: 100,000;  
  • Additional Warrants: 1,000,0000; and   
  • Incremental Success-Based Warrants: 600,000. 

The exercise price (“Exercise Price”) of each Warrant will be 120% of Market Price2 and, in any event, not less than the minimum price permitted by TSX policies at the time of grant. 

Each Warrant will be exercisable for a period of three (3) years from the Grant Date,3 subject to earlier expiry under §10. Warrants Shares are subject to a 12-month contractual lock up from the date of issuance, in addition to any statutory or TSX hold periods and legends. Unvested Warrants are non transferable. Vested Warrants may be transferred only with the Company’s consent (not to be unreasonably withheld), except transfers to the Holder’s Affiliates are permitted with notice; in all cases, transfers remain subject to securities law and TSX restrictions. 

Initial Warrants vest pro rata as and when the Company receives cash consideration under Qualified Offtakes4 priced at a Weighted Average Price ≥ US$350/tCO₂, up to a Dollar Target of US$1,000,000. Fractional vesting is permitted; vesting in this tranche completes once its Dollar Target is fully satisfied. 

Additional Warrants after Initial Warrants conditions are fully satisfied, this tranche vests pro rata as and when the Company receives additional Cash Consideration under Qualified Offtakes priced at a Weighted Average Price ≥ US$300/tCO₂, up to a Dollar Target of US$39,000,000. 

Incremental Success Based Warrants after Additional Warrants conditions are fully satisfied, this tranche vests pro rata as and when the Company receives additional Cash Consideration under Qualified Offtakes priced at a Weighted Average Price ≥ US$250/tCO₂, up to a Dollar Target of US$60,000,000. 

The Company reserves the right to accelerate the expiry of vested Warrants only (unvested Warrants will remain unaffected) to a date 30 days following written notice, provided that the 20-day volume-weighted average trading price (“VWAP”) of the Company’s shares on the TSX equals or exceeds C$2.00 at any time after the Grant Date and TSX acceptance. The notice will specify the calculation period and the revised expiry date. 

– ENDS –  

ABOUT VERDE AGRITECH 

Verde AgriTech is dedicated to advancing sustainable agriculture through the innovation of specialty multi nutrient potassium fertilizers. Our mission is to increase agricultural productivity, enhance soil health, and significantly contribute to environmental sustainability. Utilizing our unique position in Brazil, we harness proprietary technologies to develop solutions that not only meet the immediate needs of farmers but also address global challenges such as food security and climate change. Our commitment to carbon capture and the production of eco-friendly fertilizers underscores our vision for a future where agriculture contributes positively to the health of our planet. For more information on how we are leading the way towards sustainable agriculture and climate change mitigation in Brazil, visit our website: https://verde.ag/en/home.  

Because Verde’s existing mining, processing, and distribution infrastructure can be leveraged for ERW deployment, the initiative requires minimal incremental capex and allows for rapid scaling to high-margin carbon revenues.       

ABOUT UNDO 

UNDO is a pioneering nature-based carbon dioxide removal company with an ambition to remove over one billion tonnes of atmospheric CO₂ in accessible, affordable, nature-friendly ways. Since 2022, UNDO has worked at the cutting edge of science alongside experts in the climate, carbon and agricultural sectors to develop an enhanced rock weathering technology which accelerates natural weathering processes to remove carbon from the atmosphere while bringing soil and crop benefits to agricultural communities. The UNDO operational, scientific and technical model leverages existing infrastructure, with a carbon efficiency of greater than 90 percent, allowing UNDO to quickly scale operations whilst offering carbon removal at competitive prices. 

UNDO’s success-based warrants directly link equity participation to verified carbon credit revenue milestones, ensuring strict value alignment with Verde shareholders. 

ABOUT ENHANCED ROCK WEATHERING  

Enhanced rock weathering is the acceleration of natural rock weathering, whereby the CO₂ in rainwater interacts with silicate rocks (e.g. basalt, wollastonite), mineralizes and is safely stored as solid carbon for hundreds of thousands of years. To speed up this natural geological process, UNDO spreads crushed rock, sourced from the mining and quarrying industry, on agricultural land. As this mineral-rich rock breaks down, it releases nutrients, stabilizes soil pH, and increases crop yield. The IPCC 2022 Mitigation of Climate Change report suggests that enhanced rock weathering, if scaled, could remove up to 4 billion tonnes of CO₂ per year – equivalent to 40% of global CO₂ removal targets. 

CAUTIONARY LANGUAGE AND FORWARD-LOOKING STATEMENTS  

This document contains “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. This information and these statements, referred to herein as “forward-looking statements” are made as of the date of this document. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: the Company’s competitive position in Brazil and demand for potash; estimates of operating costs and total costs, net cash flow, net present value and economic returns from an operating mine. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “envisages”, “assumes”, “intends”, “strategy”, “goals”, “objectives” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. All forward-looking statements are based on Verde’s or its consultants’ current beliefs as well as various assumptions made by them and information currently available to them.  By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections, and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements, as a number of important factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions, and intentions expressed in such forward-looking statements. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur as forecast, but specifically include, without limitation: risks related to the court approval process for the debt restructuring; risks relating to variations in the mineral content within the material identified as Mineral Resources and Mineral Reserves from that predicted; variations in rates of recovery and extraction; the geotechnical characteristics of the rock mined or through which infrastructure is built differing from that predicted, the quantity of water that will need to be diverted or treated during mining operations being different from what is expected to be encountered during mining operations or post-closure, or the rate of flow of the water being different; developments in world metals markets; risks relating to fluctuations in the Brazilian Real relative to the Canadian dollar; increases in the estimated capital and operating costs or unanticipated costs; difficulties attracting the necessary workforce; increases in financing costs or adverse changes to the terms of available financing, if any; tax rates or royalties being greater than assumed; changes in development or mining plans due to changes in logistical, technical, or other factors; changes in project parameters as plans continue to be refined; risks relating to receipt of regulatory approvals; delays in stakeholder negotiations; changes in regulations applying to the development, operation, and closure of mining operations from what currently exists; the effects of competition in the markets in which Verde operates; operational and infrastructure risks; changes to the potential benefits, applications, and commercial impact of the Company’s patented products and production process, protection and enforcement, and risks regarding the anticipated benefits of the MOU, the timing, scope, and success of Enhanced Rock Weathering (ERW) projects, the generation of carbon credits, and the collaboration between Verde and UNDO; and the additional risks described in Verde’s Annual Information Form filed with SEDAR+ in Canada (available at www.sedarplus.com) for the year ended December 31, 2024. Verde cautions that the foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements to make decisions with respect to Verde, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Verde does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Verde or on our behalf, except as required by law. 

For additional information, please contact: 

Cristiano Veloso, Chief Executive Officer and Founder 

Tel: +55 (31) 3245 0205; Email: investor@verde.ag 

www.verde.ag | www.investor.verde.ag 

or 

Jim Mann, Chief Executive Officer and Founder 

Email: hello@un-do.com 

www.un-do.com 

Verde Announces Q3 2025 Earnings Results

Singapore. November 12, 2025 — Verde AgriTech Ltd (TSX: NPK | OTCQX: VNPKF) (“Verde” or the “Company”) announces its operating and financial results for the period ended September 30, 2025 (“Q3 2025”). All figures are in Canadian dollars, unless stated otherwise. Average exchange rate in Q3 2025: C$1.00 = R$4.04.

“Verde has a great deal underway—both in Enhanced Rock Weathering and in our rare-earths exploration—and we look forward to updating the market on those fronts separately. Today’s release is deliberately focused on Q3 financial performance. The Great Brazilian Agriculture Crisis continues to weigh on demand, with elevated insolvencies across the sector, but we have executed with discipline: cutting costs, tightening credit, and concentrating on resilient, long-cycle customers. Our agronomic trials in eucalyptus and sugarcane are progressing well and are opening channels where a small group of buyers could, together, absorb volumes beyond our current capacity. While industry conditions remain challenging, Q3 shows clear sequential improvement and the operational rigor to keep building from here,” said Cristiano Veloso, Founder and Chief Executive Officer of Verde AgriTech.

 

Q3 2025 Highlights

Operational and Financial Highlights

  • EBITDA before non-cash events was $0.1 million in Q3 2025, compared to -$0.03 in Q3 2024, representing the first positive EBITDA since Q2 2023.
  • Sales volume in Q3 2025 was 85,136 tons; a 16% reduction compared to Q3 2024.
  • Revenue in Q3 2025 was $5.9 million, an 18% decrease from the same period last year.
  • Gross margin excluding freight was 60% during the quarter, in line with Q3 2024.
  • Net loss in Q3 2025 was $2.1 million, compared to a $2.3 million loss in Q3 2024.
  • Cash in Q3 2025 was $3.6 million, compared to $3.4 million in Q3 2024. Short-term receivables in the quarter were $7.9 million, compared to $11.3 million in Q3 2024.
  • During the period, Verde was granted a Brazilian patent for its advanced fertilizer production technology combining glauconitic siltstone and beneficial microorganisms. The Company holds five patents in Brazil with National Institute of Industrial Property (INPI) and has three patent applications pending.

Sustainability Highlights

  • Product sold in Q3 2025 has the potential to capture up to 10,214 tons of carbon dioxide (“CO2”) from the atmosphere via Enhanced Rock Weathering (“ERW”).[1] The potential net amount of carbon captured is estimated at 7,106 tons of CO2. In addition to its carbon removal potential, Q3 2025 sales avoided the emissions of 4,155 tons of CO2e, by substituting potassium chloride (“KCl”) fertilizers.[2] Combining the potential carbon removal and carbon emissions avoided by the use of the product since the start of production in 2018, Verde’s total potential impact stands at 329,933 tons of CO2.[3]
  • 6,740 tons of chloride have been prevented from being applied into soils in Q3 2025, by farmers who used the Product in lieu of KCl fertilizers.[4] A total of 188,742 tons of chloride has been prevented from being applied into soil by Verde’s customers since the Company started production.[5]

Recent Events

  • Subsequent to quarter end, Verde announced the discovery of a continuous, clay-hosted rare earth element mineralized zone in Minas Gerais, Brazil, covering approximately 5,500 hectares across 13 mineral rights. The zone was defined through integrated geological mapping, geochemistry, and spectral or geophysical datasets, and confirmed by trench sampling (see news release dated October 6, 2025). The commencement of a three-rig drilling program, was announced shortly after this discovery, which focuses on defining initial high-quality magnet rare earths resources (see news release dated October 9, 2025).
  • In addition, Verde’s Board has reviewed the initial trench sampling work and has decided to accelerate the project, now formally named the Minas Americas Global Alliance magnetic rare earths project (the “Project”), laying out key project milestones (see news release dated October 21, 2025), which includes: completing mobilization; confirming ionic clay mineralization with summary of ionic adsorption diagnostics together with full leachate impurity and radiological screening, completing initial drilling and additional trenching (Q4 2025), releasing results from an ANSTO recovery test (Q1 2026); publishing a maiden NI 43-101 mineral resource estimate (Q1 2026) and publishing a preliminary economic assessment (PEA) (mid-2026). Verde is fully funded to execute the initial Project work program while continuing its fertilizer operations.
  • More recently, Verde confirmed ionic-adsorption behaviour across multiple trenches at the Minas Americas Global Alliance Project reporting that ammonium-sulfate leach tests returned primary leach solutions (“PLS”) with very strong magnet rare earth (neodymium (Nd), praseodymium (Pr), dysprosium (Dy), terbium (Tb)) grades and exceptionally low impurities (thorium/ uranium (Th/U) at, or below, detection) (see news release dated October 21, 2025).

“Despite the Great Brazilian Agricultural Crisis that began in early 2023 amidst a backdrop of tight credit and higher rates, our team delivered Verde’s first positive EBITDA after eight consecutive negative quarters and we are cautiously optimistic that this momentum will continue into 2026,” continued Mr. Veloso. “We have grown our sales volumes at a 6-year CAGR of 49%, and that discipline—protecting cash generation and finishing Q3 with $3.6 million—positions us well. Looking ahead, we expect Q4 2025 into Q1 2026 to be stronger than the past year, signaling a potential end to the Brazilian agricultural crisis and a return to growth.”

 

Q3 2025 In Review

Market Analysis

Agricultural and fertilizer sector

The agribusiness sector continued to face pressure during Q3 2025 as part of the Great Brazilian Agricultural Crisis, with ongoing challenges such as geopolitical tensions, extreme climate risks, high input costs, financing difficulties and trade volatility, creating uncertainties for output and market stability.[6] However, Verde began to see some recovery from the agricultural downturn that started in early 2023. The Companhia Nacional de Abastecimento (Conab) September report expects Brazilian’s soybean, corn and grain production to remain high, reaffirming the country’s resilience in agricultural output. Brazilian farmers have begun the 2025/26 planting season, and Conab’s initial outlook suggests another increase in corn and soybean acreage. The expansion reflects rising domestic biofuel demand and robust exports that continue to set shipment records.[7] At the same time, global demand for potash is strengthening, supported by population growth, food security, precision farming, specialized fertilizers, and a focus on efficiency. The market is projected to reach US$34.8 billion by 2033, suggesting a 9-year CAGR of 2.66%.[8] Taken together with projected 5-year and 10-year growth rates of ~2.3-2.5% per year and 2.5% per year, respectively, suggests a cautiously optimistic outlook for the sector.[9]

Despite this, input cost challenges, particularly high fertilizer prices, combined with relatively steady crop prices, have impacted the profitability of Brazil’s soy and corn producers during the 2025/26 harvest, currently being planted.[10] During the quarter, fertilizer prices, especially for potassium chloride (KCI), remained high, above US$350/metric ton. [11] This may lower the gross margins for producers even amid strong demand for grains and other agricultural products. [12]

Figure 1: Average potassium chloride (KCl) prices per metric ton

Brazilian farmers relying on leased land or loans face further challenges from high interest rates and accumulated leverage. According to Experian’s Agro Judicial Recovery Indicator, the sector registered 565 requests for judicial measures in Q2 2025, up 31.7% from the previous quarter.[13]

The government recently announced a R$12.0 billion (approximately USD 2.21 billion) rural credit and debt-relief program aimed at supporting up to 100,000 mostly small and medium farmers, affected by extreme weather. [14]  While the initiative is designed to ease short-term cash flow pressures, reduce credit risk, and support input demand (including fertilizers), many farmers are finding it difficult to access the funds. Banks responsible for intermediating the operations require substantial collateral, but most farmers have already pledged their available assets to other creditors.

Like Verde, other players in the sector adopted measures to safeguard operations and improve resilience. Fertilizer producers face a combination of climate-related delays, lower technology adoption, and farmer cost containment. Many have launched debt restructuring efforts to reduce short-term liabilities, preserve liquidity, and secure more sustainable financial terms on existing debt.[15] These actions reinforce a sector-wide emphasis on cost discipline, credit selectivity, and long-term stability. Verde maintained a conservative commercial strategy throughout the quarter, limiting sales exposure to higher-risk clients.

Rare earths market

The price for rare earths elements remained elevated in Q3 2025. Despite China implementing stricter export controls on rare earth elements and related technologies, citing national security concerns[16], the global market continues to grow, with projections showing a 7-year CAGR of 10.2%, from US$3.74 billion in 2024 to US$8.14 billion by 2032.[17] Brazil, which holds the world’s second-largest, rare earths reserves at 21 million metric tons[18], is taking steps to strengthen its position, offering financial guarantees and tax incentives to support domestic mining and processing of strategic minerals.[19] Driven by rising global demand for strategic minerals, investments in Brazil’s rare earths sector are forecast to climb 49% by 2029.[20]

 

Macroeconomic Conditions

Under a tight monetary policy, with record-high SELIC interest rates of 15%, Brazil’s economy is expected to have grown by around 0.3% in the quarter,[21] with a full-year growth projected by Brazilian Central Bank at 2.0%.[22] While the SELIC rate remains elevated, there may be an interest rate cut if inflation continues to ease. Current forecasts indicate the rate will gradually decline to 12.25% in 2026 and further to 10% by 2028. Inflation forecasts for 2025 and 2026 stand at 4.80% and 3.60%[23], respectively, suggesting a cautiously optimistic outlook that Brazil’s macroeconomic environment may be on a path toward stabilization in the medium term.

Figure 2: Selic Interest Rates

The agriculture industry continues to navigate an increasingly challenging credit environment. Working capital remains tight for many farmers, and more suppliers have shifted toward post-harvest payment terms, often requiring payment nine to 12 months after the harvest. As discussed earlier, a government subsidy introduced earlier this year aims to ease short-term credit constraints. In reality, however, many farmers still struggle to access these funds, as banks are requiring collateral that they often cannot provide, and available guarantees remain limited. As a result, credit approvals and disbursements continue to lag, forcing farmers and producers to carefully manage liquidity, cash flow and credit exposure throughout the supply chain.

Global political developments involving key Brazilian trading partners, along with ongoing discussions around taxation and regulation, have introduced some uncertainty for farmers considering long-term investments. In response, many are taking a more conservative approach, prioritizing essential inputs and maintaining financial discipline. While this cautious sentiment has moderated short-term fertilizer demand, it also reflects a broader focus on operational efficiency and strategic resource allocation. As greater clarity emerges around policy and market dynamics, purchasing activity may begin to recover.[24]

 

External Factors

Revenue and costs are affected by external factors including changes in the exchange rates between the C$ and R$ along with fluctuations in potassium chloride spot CFR Brazil, agricultural commodities prices, interest rates, among other factors. For further details, please refer to the Q3 2025 Year in Review section.

 

Results of Operations

The following table provides information about three months ended September 30, 2025, as compared to the three months ended September 30, 2024. All amounts in CAD $’000.

3 months

ended  

Sep 30, 2025 

3 months ended  

Sep 30, 2024 

9 months ended 

Sep 30, 2025 

9 months

ended 

Sep 30, 2024 

Tons sold ‘000   85  101  213  271
Average Revenue per ton sold $$   69  71  63  69
Average Production cost per ton sold $   (17)  (18)  (17)  (20)
Average Gross Profit per ton sold $ s  52  53  46  49
Gross Margin  75% 75% 73% 71%
 
Revenue   5,873  7,161  13,525  18,709
Production costs(1)    (1,447)  (1,830)  (3,520)  (5,316)
Gross Profit   4,426  5,331  10,005  13,393
Gross Margin  75% 75% 73% 71%
Sales and marketing expenses   (907)  (895)  (2,649)  (2,844)
Product delivery freight expenses   (2,301)  (2,630)  (5,149)  (6,767)
General and administrative expenses  (955)  (1,054)  (3,053)  (3,467)
Allowance for expected credit losses  (163)  (785)  (670)            (1,018)
EBITDA (2)   100  (33)  (1,516)  (703)
Share Based and Bonus Payments (Non-Cash Event)(3)            8  (104)  (225)  (2,146)
Depreciation, Amortisation and P/L on disposal of plant and equipment (3)  (798)  (758)  (2,344)  (2,479)
Operating Profit after non-cash events   (690)  (895)  (4,085)  (5,328)
Interest Income/Expense (4)  (1,389)  (1,431)  (4,191)  (4,372)
Net Profit before tax   (2,079)  (2,326)  (8,276)  (9,700)
Income tax (5)  (7)  (10)  (17)  (27)
Net Profit    (2,086)  (2,336)  (8,293)  (9,727)

(1) – Non GAAP measure
(2) – Included in General and Administrative expenses in financial statements
(3) – Included in General and Administrative expenses and Cost of Sales in financial statements
(4) – Please see Summary of Interest-Bearing Loans and Borrowings notes
(5) – Please see Income Tax notes

 

Operating and Financial Results

Sales Performance

In Q3 2025, revenue from sales declined by 18%, accompanied by a 3% decline in the average revenue per ton compared to Q3 2024. Excluding freight expenses (FOB price), the average revenue per ton declined by 6%, primarily driven by the devaluation of the Brazilian Real by 5.1% and a reduction in sales of specialty products, which decreased from 17% to 15% of the sales mix. The shift reflects farmers’ increasing preference for lower value-added products, as many continue to face restricted cash flows.

Verde maintains a rigorous credit approval process for customers purchasing specialty fertilizers, due to the inclusion of third-party raw materials in these products. This more stringent evaluation helps safeguard operational continuity and mitigates risks associated with the fulfillment of purchase agreements.

The Company reported a net loss of $2.1 million in Q3 2025, compared to a net loss of $2.3 million in Q3 2024. The year-over-year improvement of $0.2 million primarily reflects lower non-cash expense from a reduction in the allowance for expected credit losses

Basic loss per share totaled $0.04 in Q3 2025, the same as in Q3 2024.

 

Production Costs [25]

The average cost per ton decreased by 6% in Q3 2025, primarily due to an 5.1% devaluation of the Brazilian Real, alongside a lower proportion of specialty product orders compared to regular products.

Production costs include all direct costs from mining, processing, and the addition of other nutrients to the Product, such as sulphur and boron. It also includes the logistics costs from the mine to the plant and related salaries.

 

Financing Activities

As a result of Q2 2025 debt restructuring, the Company required less cash for interest and principal payments during the period.

 Loans

 CAD $’000

Before renegotiation After renegotiation
Short-term loans             43,316                   3,458
Long-term loans               7,562                 45,484
Total              50,878                 48,942

 

Financial Position

As of September 30, 2025, Verde held cash of $3.6 million, compared to $3.4 million at the end of Q3 2024. Short-term receivables recorded during the quarter were $7.9 million. The total cash and short-term receivables were $11.5 million in Q3 2025.

 

Outlook

For the balance of 2025 and into 2026, the Company expects continued operational improvement in its fertilizer business versus the prior 24 months. Verde anticipates improving market conditions, with early signs of recovery in H2 2025—supported by higher grain output, the potential for lower Brazilian interest rates, and moderating inflation—pointing to a near-term easing of the agricultural downturn.

Following the discovery of high-grade magnet rare earth mineralization at the Minas Americas Global Alliance magnetic rare earths project, the Board has initiated a strategic review and outlined several key project milestones which include: confirming ionic clay mineralization with summary of ionic adsorption diagnostics together with full leachate impurity and radiological screening (now confirmed), completing initial drilling and additional trenching (Q4 2025), releasing results from an ANSTO recovery test (Q1 2026); publishing a maiden NI 43-101 mineral resource estimate (Q1 2026) and publishing a preliminary economic assessment (PEA) (mid-2026).

 

Q3 Results Conference Call

The Company will host a conference call to discuss Q3 2025 results and provide an update. Subscribe using the link below and receive the conference details by email.

Date: Thursday, November 13, 2025
Time: 09:00 am Eastern Time
Link:  Q3 2025 Earnings Webinar

The Company’s financial statements and related notes for the period ended September 30, 2025 are available to the public on SEDAR+ at www.sedarplus.ca and the Company’s website at www.investor.verde.ag/.

 

About Verde AgriTech

Verde AgriTech is dedicated to advancing sustainable agriculture through the innovation of specialty multi-nutrient potassium fertilizers. Our mission is to increase agricultural productivity, enhance soil health, and significantly contribute to environmental sustainability. Utilizing our unique position in Brazil, we harness proprietary technologies to develop solutions that not only meet the immediate needs of farmers but also address global challenges such as food security and climate change. Our commitment to carbon capture and the production of eco-friendly fertilizers underscores our vision for a future where agriculture contributes positively to the health of our planet.

For more information on how we are leading the way towards sustainable agriculture and climate change mitigation in Brazil, visit our website at https://verde.ag/en/home/.

For additional information please contact:

Cristiano Veloso, Chief Executive Officer and Founder

Tel: +55 (31) 3245 0205; Email: investor@verde.ag

www.verde.ag | www.investor.verde.ag

 

Cautionary Language and Forward-Looking Statements

Cautionary Note Regarding Mineral Resources and Reserves (NI 43-101 / CIM)

Unless otherwise indicated, all scientific and technical information in this news release has been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards (May 10, 2014). Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Inferred Mineral Resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that any part of an Inferred Mineral Resource will be converted into Measured or Indicated Mineral Resources or into Mineral Reserves. The results of any preliminary economic assessment (“PEA”) or pre-feasibility study (“PFS”), to the extent referenced, are preliminary in nature and include inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves; there is no certainty that the PEA or PFS results will be realized.

Cautionary Note to U.S. Investors

The terms “Mineral Resource,” “Inferred Mineral Resource,” “Indicated Mineral Resource,” and “Measured Mineral Resource,” and “Mineral Reserve,” as used herein, are defined in accordance with NI 43-101 and the CIM Definition Standards, which differ in certain respects from the requirements of the U.S. Securities and Exchange Commission (“SEC”), including Subpart 1300 of Regulation S-K (“S-K 1300”). Accordingly, information contained herein may not be comparable to similar information made public by U.S. companies subject to the SEC’s reporting and disclosure requirements.

Forward-Looking Information and Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). Forward-looking statements are made as of the date of this news release and relate to future events or performance. Often, but not always, forward-looking statements can be identified by words such as “expects,” “anticipates,” “plans,” “projects,” “estimates,” “envisages,” “assumes,” “intends,” “strategy,” “goals,” “objectives,” or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results “may,” “could,” “would,” “might,” or “will” be taken, occur or be achieved.

Forward-looking statements in this news release include, without limitation, statements with respect to: (i) estimates of the tonnage and grades of Mineral Resources and Mineral Reserves; (ii) the potential amount of CO₂ removal per tonne of rock and the development, verification, issuance and sale of carbon-removal credits; (iii) the PFS representing a viable development option for the Project and the timing of related disclosures; (iv) estimates of initial and sustaining capital costs, operating and total costs, payback periods, net cash flow, net present value and economic returns; (v) future production volumes (produced and sold) and sales assumptions for Super Greensand® and K Forte®; (vi) the Company’s competitive position in Brazil and potash market demand; (vii) recommendations of any special committee; (viii) the terms, timing, court approval and financial impact of any debt restructuring; and (ix) the potential outcomes of re-assaying certain core samples.

These forward-looking statements are based on the Company’s and its consultants’ reasonable assumptions, estimates and opinions as of the date hereof, including, without limitation: (i) the presence and continuity of Mineral Resources and Mineral Reserves at estimated grades; (ii) geotechnical, hydrological and metallurgical characteristics of rock consistent with sampled results; (iii) capacities, availability and performance of equipment and personnel at estimated costs and timelines; (iv) foreign exchange rates; (v) realized sales prices, market size and adoption for the Company’s products; (vi) applicable discount, tax and royalty rates; (vii) availability and cost of acceptable financing; (viii) anticipated mining loss and dilution; (ix) receipt of required permits and other regulatory approvals on acceptable terms; (x) reasonable contingency allowances; (xi) successful execution of operating plans; (xii) the fulfilment of environmental assessment commitments and community arrangements; and (xiii) for carbon-removal activities, the applicability of methodologies, verification, permanence, monitoring and market acceptance.

Forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. Such risks and uncertainties include, without limitation: risks related to court approvals and the completion of any debt restructuring; variations in grade or recovery; adverse geotechnical, hydrological or metallurgical conditions; changes in project parameters as plans continue to be refined; cost escalation and inflationary pressures; labour availability; fluctuations in commodity prices and demand (including potash); foreign-exchange volatility (including Brazilian Real–Canadian dollar); availability and terms of financing; changes in tax and royalty regimes; delays in permitting or stakeholder agreements; competitive pressures; infrastructure and operational risks; regulatory changes affecting mining, fertilizers and carbon-removal markets; and, for carbon-removal activities, risks relating to methodology eligibility, additionality, durability/permanence, leakage, monitoring, verification, certification, policy shifts and pricing, any of which could affect the issuance, saleability or value of credits. Additional information about risk factors is described in the Company’s most recent Annual Information Form filed on SEDAR+ (www.sedarplus.com) and in other continuous disclosure filings. The foregoing list is not exhaustive, and there can be no assurance that forward-looking statements will prove accurate.

Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Financial Outlook / Future-Oriented Financial Information

This news release may contain future-oriented financial information or financial outlooks (collectively, “FOFI”) within the meaning of applicable securities laws, including, without limitation, estimates of capital and operating costs, net present value, internal rate of return, payback and projected revenues or cash flows. Such FOFI are provided to describe the anticipated effects of proposed project development and may not be appropriate for other purposes. The FOFI are based on the assumptions and subject to the risks described above, and actual results may vary materially.

Currency, Units and Trademarks

Unless otherwise stated, all figures are in Canadian dollars (C$). Tonnages are metric tonnes. Super Greensand® and K Forte® are registered trademarks of the Company.

[1] The carbon capture potential of Verde’s products, through Enhanced Rock Weathering (ERW), is 120 kg CO2e per ton of K Forte®. For further information, see “Verde’s Products Remove Carbon Dioxide From the Air”.

[2] K Forte® is a fertilizer produced in Brazil using national raw materials. Its production process has low energy consumption from renewable sources and, consequently, a low environmental and GHG emissions footprint. Whereas the high carbon footprint of KCl results from a complex production process, involving extraction, concentration, and granulation of KCl, in addition to the long transportation distances to Brazil, given that 95% of the KCl consumed in the country is imported. 12Mt of K Forte® is equivalent to 2Mt of KCl in K2O content. Emissions avoided are calculated as the difference between the weighted average emissions for KCl suppliers to produce, deliver, and apply their product in each customer’s city and the emissions determined according to K Forte®’s Life Cycle Assessment for its production, delivery, and application in each customer’s city.

[3] From 2018 to Q3 2025, the Company has sold 2.4 million tons of Product, which can potentially remove up to 261,948 tons of CO2. Additionally, this amount of Product could potentially avoid up to 67,985 tons of CO2 emissions.

[4] Verde’s Product is a salinity and chloride-free replacement for KCl fertilizers. Potassium chloride is composed of approximately 46% of chloride, which can have biocidal effects when excessively applied to soils. According to Heide Hermary (Effects of some synthetic fertilizers on the soil ecosystem, 2007), applying 1 pound of potassium chloride to the soil is equivalent to applying 1 gallon of Clorox bleach, with regard to killing soil microorganisms. Soil microorganisms play a crucial role in agriculture by capturing and storing carbon in the soil, making a significant contribution to the global fight against climate change.

[5] 1 ton of Product (10% K2O) has 0.1 tons of K2O, which is equivalent to 0.17 tons of potassium chloride (60% K2O), containing 0.08 tons of chloride.

[6] Source: Perspectives for Agriculture – Volume 13 – 2025/2026 Harvest, Companhia Nacional de Abasteciento, September 19, 2025. Available at: https://www.gov.br/conab/pt-br/acesso-a-informacao/institucional/publicacoes/perspectivas-para-a-agropecuaria/perspectivas-para-a-agropecuaria-volume-13-safra-2025-2026-1

[7] Source: Brazil begins planting with expected record acreage driven by high demand but low margins, Farmdoc Daily, University of Illinois at Urbana-Champaign, October 20, 2025. Available at: https://farmdocdaily.illinois.edu/2025/10/brazil-begins-planting-with-expected-record-acreage-driven-by-high-demand-but-low-margins.html

[8] Source: Potash Market Report – Business Research Insights, October 20, 2025. Available at: https://www.businessresearchinsights.com/market-reports/potash-market-120921

[9] Source: Brazil: 2025 article iv consultation—press release; staff report; and statement by the executive director for Brazil, International Monetary Fund, June 27, 2025. Available at:  https://www.elibrary.imf.org/view/journals/002/2025/194/article-A000-en.pdf

10 Source: Soy and corn farmers could face losses this harvest, Valor International, October 17, 2025. Available at: https://valorinternational.globo.com/agribusiness/news/2025/10/17/soy-and-corn-farmers-could-face-losses-this-harvest.ghtml

[11] Available at: Acerto Limited

[12] Source: Brazil begins planting with expected record acreage driven by high demand but low margins, Farmdoc Daily, University of Illinois at Urbana-Champaign, October 20, 2025. Available at: https://farmdocdaily.illinois.edu/2025/10/brazil-begins-planting-with-expected-record-acreage-driven-by-high-demand-but-low-margins.html

[13] Source: Judicial Reorganization: requests grow almost 32% in agribusiness in the second quarter of 2025, shows Serasa Experian indicator, Serasa Experian, September 29, 2025. Available at: https://www.serasaexperian.com.br/sala-de-imprensa/agronegocios/recuperacao-judicial-solicitacoes-crescem-quase-32-no-agro-em-segundo-trimestre-de-2025-mostra-indicador-da-serasa-experian/

[14] Source: Brazil’s Lula announces $2.2 bln debt relief package for farmers, Reuters, September 5, 2025. Available at: https://www.reuters.com/business/finance/brazils-lula-announces-22-bln-debt-relief-package-farmers-2025-09-05/

[15] Source: Lavoro Restructures $460 Million Debt to Secure Crop Input Supply, The AgriBiz, June 18, 2025. Available at: https://www.theagribiz.com/international/lavoro-restructures-460-million-debt-to-secure-crop-input-supply/

[16] Source: Concerned carmakers race to beat China’s rare earths deadline, Reuters, October 21, 2025. Available at: https://www.reuters.com/business/autos-transportation/concerned-carmakers-race-beat-chinas-rare-earths-deadline-2025-10-21/

[17] Source: Rare Earth Elements Market Size, Share & Industry Analysis and Regional Forecast, 2024-2032, Fortune Business Insights, October 6, 2025. Available at: https://www.fortunebusinessinsights.com/rare-earth-elements-market-102943

[18] Source: Brazil’s rare earth projects seek partnerships to enhance energy security, S&P Global, June 6, 2025. Available at: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/metals/060625-brazils-rare-earth-projects-seek-partnerships-to-enhance-energy-security

[19] Source: Brazil eyes financial guarantees, tax breaks for strategic minerals, Reuters, September 5, 2025. Available at: https://www.reuters.com/business/brazil-eyes-financial-guarantees-tax-breaks-strategic-minerals-2025-10-16/

[20] Source: Brazilian Rare earth investments to rise 49% by 2029, Agencia Brazil, October 22, 2025. Available at: https://agenciabrasil.ebc.com.br/en/economia/noticia/2025-10/brazilian-rare-earth-investments-rise-49-2029

[21] Source: Brazil’s economy slows sharply in second quarter but still beats forecasts, Reuters, September 2, 2025. Available at: https://www.reuters.com/world/americas/brazils-economy-slows-sharply-second-quarter-still-beats-forecasts-2025-09-02/

[22] Source: Brazilian Central Bank, Projections for GDP growth in 2025 and 2026, September 2025. Report. Available at: https://www.bcb.gov.br/content/ri/inflationreport/202509/rpm202509b1i.pdf

[23] As of September 30, 2025. Source: Brazilian Central Bank

[24] Source: “US sanctions could cause chaos on Latam farms run on Russian fertilizers,” Reuters, July 21, 2025. Available at: https://www.reuters.com/world/americas/us-sanctions-could-cause-chaos-latam-farms-run-russian-fertilizers-2025-07-21

[25] Verde’s production costs and sales price are based on the following assumptions:

  1. Micronutrients added to the product increase its production cost, rendering K Forte® less expensive to produce.
  2. Production costs vary based on packaging type, with bulk being less expensive than Jumbo Bags.
  3. Plant 1 produces K Forte® Jumbo Bags and Low-Carbon Specialty Fertilizer Products, while Plant 2 exclusively produces K Forte® Bulk. Therefore, Plant 2’s production costs are lower than Plant 1’s costs.

Verde AgriTech Confirms Ionic Adsorption with High-Value Magnet Rare Earths; Leachate MREO up to ~300 mg/kg with No Uranium Contaminant

Singapore, October 21, 2025 – Verde AgriTech Ltd. (TSX: NPK | OTCQX: VNPKF) (“Verde” or the “Company”), is pleased to report ionic-adsorption behaviour confirmed across multiple trenches at the Minas Americas Global Alliance Project (“Minas Americas” or the “Project”) in Minas Gerais, Brazil. Ammonium-sulfate leach tests returned primary leach solutions (“PLS”) with very strong magnet rare earth (neodymium (Nd), praseodymium (Pr), dysprosium (Dy), terbium (Tb)) grades and exceptionally low impurities (thorium/ uranium (Th/U) at, or below, detection).

Highlights

  • Best leachates (0.5M (NH₄)₂SO₄, 30 min): up to 667 mg/kg of DREO (total desorbable rare earth oxide (“DREO”) and up to 278 mg/kg of magnetic rare earth oxide (“MREO”) (Nd+Pr+Dy+Tb), showing ionic adsorption behaviour and demonstrating strong magnet-REE proportion in these initial tests.
  • NdPr in leachate up to 268 mg/kg (PT‑36), with Dy+Tb up to 9 mg/kg; multiple trenches exceed 150 mg/kg MREO in PLS.
  • Head grades are high and laterally continuous: top MREO samples range 1,306–2,182 ppm, within 6,081–8,930 ppm TREO.
  • Ultra-low contaminants in PLS: Th and U not detected in the best intervals; Fe and Al minimal, supporting selective ion-exchange.

Top Leachate Intervals and Matching Head Grades

Table 1 – Top Disordable Intervals

Project/Source Basis Head TREO (ppm) Head MREO (ppm) DREO in PLS (mg/kg) MREO in PLS (mg/kg) Nd₂O₃ (mg/kg) Pr₆O₁₁ (mg/kg) Dy₂O₃ (mg/kg) Tb₄O₇ (mg/kg) Key impurity notes
 PT‑36 Trench (0–1 m) 7,181 1,593 667 278 209 59 7 2 Th & U ND; Fe ND
 PT‑34 Trench (1–2 m) 8,615 2,182 578 240 187 45 7 2 Th & U ND; Fe ND
 PT‑42 Trench (0–1 m) 4,605 1,096 383 167 129 33 4 1 Th ND (~3 mg/kg Th max); Fe ND

Notes: DREO and element grades above are measured directly in the primary leach solution (PLS) from ion-exchange tests; Head grades are from the same trench intervals. ND = not detected.

 

Magnet REEs dominate the leachate (>40% of dissolved REO). The magnet rare‑earth oxides (MREO = Nd₂O₃ + Pr₆O₁₁ + Dy₂O₃ + Tb₄O₇) constituted over 40% of the dissolved REO in Verde’s best PLS samples—an exceptional selectivity for the value‑driver elements. Quantitatively, PT‑36 returned DREO of ~667 mg/kg with MREO of ~278 mg/kg (≈41.7% MREO; NdPr ~268 mg/kg; Dy+Tb ~9 mg/kg). PT‑34 (1–2 m) showed DREO of ~578 mg/kg and MREO of ~240 mg/kg (≈41.5%), while PT‑42 (0–1 m) reported DREO of ~383 mg/kg and MREO of ~167 mg/kg (≈43.6%). This >40% MREO share—paired with very low Th/U and minimal Fe/Al (iron/aluminium) in solution—indicates high‑value, magnet‑grade enrichment in the leachate and provides a strong technical basis for efficient downstream upgrading to tight‑spec mixed rare earth carbonate (MREC).

Cerium is selectively suppressed in solution. Under the diagnostic 0.5 M ammonium‑sulfate, 30‑minute leach screen, cerium consistently reports at very low concentrations in the primary leach solution (PLS) relative to the head composition—an ionic‑clay hallmark that materially simplifies downstream purification. in Verde’s top intervals, CeO₂ in PLS ranges ~16–91 mg/kg, while the dissolved‑REE (DREO) totals 383–667 mg/kg ; that means cerium represents only ~4–14% of dissolved REO in these best samples. For example, at PT‑36 (0–1 m) the head assay carries ~3,563 ppm CeO₂ within 7,181 ppm TREO, yet the PLS contains ~91 mg/kg CeO₂ against ~667 mg/kg DREO (≈14% Ce in solution). At PT‑34 (0–1 m) and PT‑34 (1–2 m), CeO₂ in PLS is ~16–28 mg/kg versus ~383–578 mg/kg DREO (≈4–5% Ce in solution), further confirming preferential desorption of magnet REEs over cerium under mild conditions. Th and U are at or below detection; iron (Fe) is not detected in the best PLS, reinforcing a clean leach signature.

Ionic‑Clay Rare Earths — Rarer Geology, Higher Strategic Appeal, and Why “Clean” Clays are King
Ionic‑adsorption clays (IACs) are geologically rarer than hard‑rock rare‑earth systems. They form only where REE‑bearing source rocks have been deeply weathered for long periods in warm, humid climates, where the right clay minerals can weakly adsorb REEs and where stable landscapes preserve these horizons close to surface. Those conditions occur in limited belts globally, which is why confirmed IAC districts command outsized strategic interest. Moreover, they are shallow, soft, and tightly aligned to the magnet‑grade demand story powering EVs, robots, and wind.

From a developer’s risk lens, well‑behaved ionic clays can mitigate key execution risks. Their near‑surface, free‑digging nature reduces mining complexity; ambient‑condition desorption allows compact, modular buildouts; and faster test‑iterate cycles are possible if early metallurgy confirms ionic behavior and a “clean” liquor. Cleanliness is king in ionic clays. IAC domains that co‑dissolve fewer contaminants (e.g., Fe/Al/Mn/alkalies) typically need fewer purification stages, consume less reagent, simplify residue handling, and enable a tighter‑spec mixed rare earth carbonate (MREC) that downstream processors prize. The upshot: lower impurity loads can translate into simpler, smaller circuits and materially lower capital intensity than high‑impurity clay variants—accelerating credible pathways to marketable concentrate. The project ultra-low contaminants in PLS are illustrated in Table 2.

Table 2 – Weight Percent (Wt%) of Key Impurities in PLS for Top Disordable Intervals

Project/Source Basis Al

(Wt%)

Ca

(Wt%)

Fe

(Wt%)

Ni

(Wt%)

Th

(Wt%)

U

(Wt%)

PT‑36 Trench (0–1 m) 0,00391 0,01508 <0,0002 0,000266 0,000259 <0,000004
PT‑34 Trench (1–2 m) 0,00158 0,06842 <0,0002 0,00054 <0,00002 <0,000004
PT‑42 Trench (0–1 m) 0,00338 0,00968 <0,0002 0,000781 0,000292 <0,000004

Light, Heavy or Magnet?

Rare earth elements are often labeled “light” (La–Gd) and “heavy” (Tb–Lu, plus yttrium), but the market does not split that neatly and definitions vary among authorities. Deposits coproduce a basket of elements, so outputs are governed by geology and processing rather than preference. Many heavy rare earths feed small, highly specialized uses—laser media, medical imaging crystals, specialty optics—where ultra‑tight purity and performance specs drive qualification and price. High unit prices, in other words, reflect specification intensity and tiny volumes, not large underlying markets.

What sets market scale and strategic relevance are the magnetic rare earths. NdPr form the backbone of high‑performance Nd‑Fe‑B magnets, while small additions of dysprosium or terbium (Dy/Tb) enable high‑temperature resilience. These magnets are critical in EV drivetrains, robots, wind turbines, and advanced industrial systems, with few practical substitutes at comparable torque density and efficiency—and supply chains remain geographically concentrated. As a result, magnetic REEs—especially NdPr, with Dy/Tb where needed—are the primary demand drivers and the most strategic focus across the value chain.

How Minas Americas Compares (Head Grade and Leachate) to Aclara’s Carina Project (Brazil)

Head grade (oxide ppm): Aclara’s Carina Indicated Resource (Grand Total) reports Nd₂O₃ ~221 ppm, Pr₆O₁₁ ~63 ppm, Dy₂O₃ ~38.9 ppm and Tb₄O₇ ~6.4 ppm (~329 ppm MREO) within 1,1452 ppm TREO. The Project selected trench intervals show materially higher head grades (e.g., PT‑34: 2,182 ppm MREO within 8,615 ppm TREO).

Leachate (PLS) concentrations: Aclara disclosed average high‑grade RC intervals of ~434 mg/kg DREO with ~129 mg/kg NdPr and ~22 mg/kg Dy+Tb (~152 mg/kg MREO). The Project’s best intervals yield up to 667 mg/kg DREO and up to 278 mg/kg MREO (NdPr to 268 mg/kg), exceeding those averages on a strictly apples‑to‑apples basis. This like‑for‑like comparison is summarized in Table 3 and illustrated in Figures 1-3.

Table 3 – Verde – Minas Americas vs.Aclara – Carina

Project/Source Basis TREO (ppm) MREO (ppm) DREO in PLS (mg/kg) MREO in PLS (mg/kg) NdPr in PLS (mg/kg)
PT‑36 Trench (0–1 m) 7,181 1,593 667 278 268
PT‑34 Trench (1–2 m) 8,615 2,182 578 240 232
PT‑42 Trench (0–1 m) 4,605 1,096 383 167 162
Aclara – Carina Indicated (avg) / PEA 1,452 ~329 ~434 ~152 ~129

 

Figure 1 – Minas Americas vs. Carina – Head REO Results

Figure 2 – Minas Americas vs. Carina – Disordable Results

Figure 3 – Minas Americas vs. Carina – NdPr in DREO Results

Aclara’s head grades above are averaged over a large Indicated Resource; the Project results are early‑stage trench intervals. Nonetheless, on a leachate concentration basis (what goes into the plant), the Project’s best PLS magnet grades are competitive to superior while maintaining exceptionally low impurities.

* Aclara Resources Mineração Ltda.; GE21 Consultoria Mineral. Carina Rare Earth Element Project — Preliminary Economic Assessment Update. GE21 Project No. 240205. May 3, 2024. 322p.

Metallurgy: Why the First SGS Screen is Conservative and Why Stage Two Testing Lifts Recoveries

All leach results reported today come from an SGS Geosol screening test designed to answer a simple question: Are the rare earths ion adsorbed and therefore readily exchangeable? To keep that diagnostic clean and comparable, the procedure intentionally uses a single, short leach (0.5 M ammonium sulfate, ~30 minutes) on the as received, screened material and then reads the dissolved rare earths in the solution. It does not attempt to maximize extraction. In our program, SGS applied method ICM694 (0.5 M (NH₄)₂SO₄; 30 minute contact) after routine sample prep; results are reported as oxides (REO). This is the right first step for ionic clay projects because it isolates the exchangeable fraction and demonstrates low impurity solubilization. For example, in sample OB56 the leachate contained ~383 mg/kg TREO including ~127 mg/kg Nd₂O₃ and ~29 mg/kg Pr₆O₁₁, with Th and U near detection limits—evidence of selective ion exchange with minimal contaminant carryover under very mild conditions.

Because this diagnostic is purposefully mild, it under reports what a plant level flowsheet can achieve. Several built in limitations suppress extraction: (i) a single short contact rather than multiple counter current stages; (ii) fixed ionic strength (0.5 M) and no pH ramping to keep clays dispersed and prevent readsorption; (iii) no pre conditioning/attrition to expose exchange sites; (iv) no residence time optimization or temperature control; and (v) no recycle/bleed management of the leach liquor. In practice, proper metallurgical testing for ionic clays moves to staged agitated and/or percolation leaching with controlled pH (typically mildly acidic), optimized solid–liquid ratios, higher or stepped salt strengths, dispersants to limit flocculation, and counter current washing. These steps systematically (1) access additional exchange sites, (2) prevent rare earth readsorption as the solution becomes depleted, and (3) concentrate REE in solution while continuing to show low co leaching of Al/Fe/Si. Our initial dataset already points to that selectivity: major gangue oxides are very low in solution, and radioactive/penalty elements are at or near zero—favorable foundations for scaled processing.

What to expect next: Stage two metallurgical work for Verde’s Preliminary Economic Assessment, expected to be released in Q2 2026, will therefore implement multi-stage, counter current leaching and washing sequences (agitated and column), pH/ionic strength profiling, residence time optimization, and dispersion control. The objective is to translate today’s conservative, single pass screen into materially higher extractions of NdPr, Dy and Tb in line with commercial ionic clay practice—while preserving the clean impurity profile indicated by the SGS screen. As those flowsheet elements are introduced, recoveries typically step up materially from the initial screen because we are no longer constrained by a one and done 30-minute contact at fixed strength. We will report those stage two results as they are completed.

QA/QC and Qualified Person

Sample preparation and analytical methods. Samples were analyzed by SGS Geosol Geosol Laboratórios Ltda. (Vespasiano, Brazil), an ISO/IEC 17025:2017-accredited and independent commercial laboratory. For total element concentrations, samples underwent lithium metaborate fusion with ICP-OES/ICP-MS finish (SGS method codes IMS95A/ICP95A). Selective leachates were prepared using a 0.5 M ammonium sulfate leach for 30 minutes (SGS method ICM694) with ICP-MS finish.

QA/QC. The Company inserted certified reference materials, blanks and field/pulp duplicates at ~12% of the sample stream, and monitored laboratory internal controls. The QA/QC results were reviewed by the Qualified Person and were within acceptable limits for this stage of exploration.

Qualified Person. The scientific and technical information in this news release has been reviewed and approved by José Márcio Matta Machado Paixão, FAusIMM, who is a Qualified Person as defined by NI 43-101 and is independent of the Company within the meaning of NI 43-101. Mr. Paixão has verified the data disclosed herein by reviewing laboratory certificates, QA/QC performance (blanks/CRMs/duplicates) and analytical procedures.

About Verde AgriTech

Verde AgriTech is dedicated to advancing sustainable agriculture through the innovation of specialty multi nutrient potassium fertilizers. Our mission is to increase agricultural productivity, enhance soil health, and significantly contribute to environmental sustainability. Utilizing our unique position in Brazil, we harness proprietary technologies to develop solutions that not only meet the immediate needs of farmers but also address global challenges such as food security and climate change. Our commitment to carbon capture and the production of eco-friendly fertilizers underscores our vision for a future where agriculture contributes positively to the health of our planet. For more information on how we are leading the way towards sustainable agriculture and climate change mitigation in Brazil, visit our website: https://verde.ag/en/home.

Cautionary Language and Forward-Looking Statements

This news release contains “forward‑looking information” and “forward‑looking statements” (together, “FLI”) within the meaning of applicable Canadian securities laws. FLI relates to future events or performance and reflects management’s current expectations and assumptions. FLI in this news release includes, but is not limited to, statements regarding: the interpretation and significance of exploration and leach test results; the potential for ionic‑adsorption clay mineralization and for economic extraction of rare earth elements; the selectivity of magnet rare earths in solution and implications for processing; comparisons to other projects; anticipated metallurgical programs and flowsheet development (including staged, counter‑current leaching and washing); the expected timing, scope and outcomes of further testwork and studies (including a potential preliminary economic assessment (PEA)) currently targeted for release in Q2 2026; plans for project advancement; potential strategic initiatives and partnerships; and the timing and content of future updates.

Material assumptions

Material factors and assumptions used in developing the FLI include, without limitation: that trench and leach results are representative of broader mineralized horizons; continuity of ionic‑adsorption behaviour; scalability of laboratory procedures to pilot or commercial settings; availability and performance of reagents and process consumables; the ability to further optimize leaching, washing and impurity control while maintaining selectivity; reasonable access to the Project area, services and infrastructure; the availability of financing on acceptable terms; stable political, regulatory, community and permitting environments; sustained demand and pricing for rare earth products (including Nd, Pr, Dy and Tb); and exchange rates and operating cost inputs consistent with historical ranges.

Material risk factors

FLI is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. These include, without limitation: risks inherent to early‑stage exploration projects; that subsequent work may not confirm initial exploration or leach results; metallurgical risks in scaling from bench to pilot/industrial operations; sampling, analytical and interpretive uncertainties; comparisons to peer projects that may not be valid due to differences in geology, scale, test conditions, project stage or assumptions; commodity price and exchange‑rate volatility; access to capital; cost inflation and supply‑chain disruptions; availability of water, power, reagents and skilled labour; environmental, permitting, title, tenure and community risks (including Indigenous engagement); changes in laws, regulations, policies or enforcement; political and country risk; counterparty and offtake risks; and the other risks set out in the Company’s most recent Annual Information Form, MD&A and other continuous disclosure documents available under the Company’s profile at www.sedarplus.ca .

Caution to readers

Although the Company believes the assumptions and expectations reflected in the FLI are reasonable as of the date hereof, no assurance can be given that they will prove correct. Readers are cautioned not to place undue reliance on FLI. The FLI herein is made as of the date of this news release, and the Company does not undertake any obligation to update or revise such FLI except as required by applicable securities laws. The Company’s policy is to update previously disclosed material FLI as required by NI 51‑102 through subsequently filed MD&A or news releases.

Technical and NI 43‑101 Cautionary Statements

The exploration and test results reported are preliminary in nature and do not constitute mineral resources or mineral reserves as defined by National Instrument 43‑101 – Standards of Disclosure for Mineral Projects (NI 43‑101). There is no certainty that further exploration will result in the delineation of mineral resources or reserves, that any economic analysis will be completed, or that any development decision will be made.

Any discussion of a potential PEA relates to a contemplated future study. No PEA results are being disclosed in this news release. If a PEA is completed and disclosed in the future, the Company will include all cautionary language required by NI 43‑101 for any economic analysis that includes or is based on inferred mineral resources.

Reported impurity and radionuclide observations (e.g., thorium/uranium below detection in certain intervals) are limited to the methods, detection limits and sample intervals tested and may not be representative of the property as a whole.

Comparisons to other issuers’ properties and results (including Aclara’s Carina Project) are provided for context only, are based on public disclosures and/or cited technical sources, and are not necessarily indicative of results that may be achieved at the Company’s Project. Differences in geology, testwork, scale, stage of development and assumptions can materially affect outcomes.

The scientific and technical information in this news release has been reviewed and approved by a Qualified Person under NI 43‑101 as disclosed herein. Terms such as TREO, MREO and DREO are used as defined in the news release for clarity and are not CIM‑defined categories.

 

For additional information please contact:

Cristiano Veloso, Chief Executive Officer and Founder

Tel: +55 (31) 3245 0205; Email: investor@verde.ag

www.verde.ag | www.investor.verde.ag